Solana investors panic after FTX and Alameda Research fall – crypto.news
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The fall of Sam Bankman-FTX Fried’s crypto exchange and Alameda Research trading firm is causing unrest in Solana’s SOL market. Some venture capitalists appear to be so concerned that they’re demanding tokens they’d “staked,” or accumulated in the blockchain’s innate security protocol. SOL prices continue to surge under association with FTX SOL, the endemic token of the Solana network, has seen a significant price drop and poor bullish momentum in the course of the week. Numerous times, liquidity concerns at FTX and the exchange’s denied sale to Binance were mentioned as potential explanations. In a 2021 private Initial Coin Offering,
In a significant blockchain movement, FTX/Alameda has unstaked a substantial 3.03 million Solana (SOL) tokens valued at approximately $431.3 million. The unstaking event was followed by multiple wallet transfers, including a notable deposit of 24,799 SOL (approximately $3.38 million) into Binance, as confirmed by on-chain transaction data. Of the 3.03M…
Solana – a crypto that’s otherwise known as SOL to its personal holders – continues to shed value given it’s so tied to the fallen crypto exchange FTX and its disgraced head executive Sam Bankman-Fried. Solana Isn’t Doing Too Well FTX is currently in the process of filing bankruptcy. Sam…