FTX-Alameda Crisis: These Crypto To Be Dumped Soon After Solana (SOL)

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.

Timeline of Solana

Following the FTT token, Solana (SOL) in particular is currently suffering a massive price slump. As a report revealed last week, the SOL token is one of the major assets on FTX's balance sheet.

FTX, through Almeda, stands to be a major investor in the Solana project SOL price continues to decline in a six-hour timeframe The native token of the Solana network, SOL, expereinced a severe price decrease and poor price action over the previous 48 hours.

One altcoin that has been affected a lot following the FTX and Alameda collapse is Solana (SOL). Along with the FTX tokens, Solana's native crypto SOL has come under intense selling pressure.

Friktion, Solana's portfolio management platform launched in December 2021, has successfully attracted crypto-native and traditional institutions “managing up to $60 billion in AUM who seek to access leading risk-adjusted and transparent yields on DeFi.

Solana Daily, a popular Twitter handle that posts about updates about the Solana [SOL] ecosystem, recently uploaded Solana's latest weekly report. The report mentioned all the major developments on the network over the past week, including Solana's integration with Google Cloud and the launch of Solana Mobile.

The price of Solana has taken a direct hit amid the ongoing Binance-FTX spat. Solana Drops 14% As Founders of FTX and Binance Continue To Engage In A Heated Spat The price of Solana fell sharply on November 8, dropping 14% from its usual high due to the ongoing spat between the founders of FTX and Binance crypto exchanges.

With general uncertainty following high tensions between exchanges FTX and Binance, traders are dumping SOL tokens. The post Solana price slumps amid FTX, Binance founder fallout appeared first on The Block.

A crypto analyst and trader known for accurately predicting the big 2022 market crash is putting Solana (SOL) bulls on notice. The pseudonymous analyst known as Capo tells his 588,000 Twitter followers that crypto markets are likely forming a classic bull trap.

B2C2 said that crypto traders will likely be paying more attention to the price of Solana and FTT than economic data in the short term. The post B2C2: Crypto market sentiment could hinge on Solana and FTX's native tokens appeared first on The Block.

Google Cloud, the cloud service provider behind leading corporate giants including Twitter, Deutsche Bank and United Parcel Service (UPS), says it's working on several new projects that support the Solana (SOL) ecosystem.