Bitcoin Cash, Ethereum Classic, Litecoin And Solana Are All Crashing Again: Here's Why

Bitcoin Cash (CRYPTO: BCH), Ethereum Classic (CRYPTO: ETC), Litecoin (CRYPTO: LTC) and Solana (CRYPTO: SOL) are all falling sharply Wednesday afternoon. Shares of several altcoins are trading lower during Wednesday's session following a CoinDesk report suggesting Binance is leaning toward scrapping the FTX acquisition.

Timeline of Bitcoin-cash, Ethereum-classic, Litecoin, Solana

Solana Labs COO Raj Gokal called FTX crisis a “crucible moment” for the Solana ecosystem. The post Solana Labs COO sees ‘crucible' moment' for ecosystem amid FTX crisis appeared first on The Block.

The Solana price falling for four consecutive days gave a massive breakdown from the $26.5 neckline support of descending triangle pattern. This breakdown aligned with the FTT sell-off and caused a sharp decline in SOL/USDT pair.

Crypto.com withdrawals, deposits news updates: Citing recent industry events, crypto.com informed customers it suspended deposits and withdrawals of (CRYPTO: USDC) and (CRYPTO: USDT) on Solana (CRYPTO: SOL) blockchain. The move comes after the market went through a crypto crash following Binance (CRYPTO: BNB) announced potential acquisition of FTX exchange.

When the current epoch finishes in under 24 hours, Solana (SOL) validators are expected to release a total of 50.7 million SOL, equivalent to over $940 million, at the time of publication.

Citing recent industry events, crypto.com informed customers it suspended deposits and withdrawals of USDC and USDT on Solana blockchain. The post Crypto.com Suspends These Withdrawals, Deposits On Solana Chain appeared first on CoinGape.

Further downward pressure may be in store for Solana as tokens validators may sell over$300 million worth of sol tokens tomorrow. The post Nearly $1 billion of solana is set to be unlocked in 24 hours appeared first on The Block.

After Binance and FTX engaged in a word war on social media – and eventually making amends (well, sort of; Binance said today it's buying FTX) – Solana got dumped violently. Solana's native token, SOL, is trading in the red across all time frames, as reported by CoinGecko, lending credence to the bearish claims.

Solana‘s price has plunged remarkably by more than 55% in the past couple of days, dragging the value below $20 at the moment. The platform registered a huge selling volume since the last trading day, which has raised from $2 billion to more than $6 billion at the moment.

Technical Analyst @DU09BTC warned that 18 million Solana tokens are due to hit the market following the end of their staking lock-in period at the current epoch. The post Double dip expected as flood of unlocked Solana to hit the market appeared first on CryptoSlate.

Sam Bankman-Fried's crypto exchange FTX and trading firm Alameda Research are under a severe liquidity crunch. Crypto exchange Binance is all set to acquire FTX as CEO Chanpeng “CZ” Zhao signed a non-binding LOI to help with the liquidity crunch.