Solana-Based 'DeFi' Lender Solend Goes for Whale Hunting and Backpedals Instantly

A new proposal put forward by Solana (SOL)-based borrowing and lending service Solend to disapprove the takeover of the protocol's largest account following huge backlash from the community has passed with an overwhelming majority of votes.

Timeline of Solana

The broader crypto lending and the staking markets have been undergoing one of the worst crises in history amid a wave of liquidations recently. On Sunday, Solana-based “decentralized” lending platform Solend initiated an SNLD1 proposal to take over a whale account with emergency powers and avoid a cascade of possible liquidations.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Solana's [SOL] recent movements corresponded to the fear sentiment as it dipped below its south-looking EMA ribbons. While the altcoin invalidated the bullish tendencies and broke down from its falling wedge, the $28-mark support has

The team at Solend is concerned that a Solana whale might be liquidated, causing a cascade of liquidations that would hurt the platform's liquidity. The Solend team has attempted to contact the SOL whale to no avail.

Following a huge sell-off, the cryptocurrency market has been in dire conditions for the last month. Several cryptocurrencies have followed suit, with several losing double-digit [.

Solana price analysis shows that the Solana (SOL) price is down 5.6 percent in the last 24 hours as the broader cryptocurrency market continues to correct lower. The sell-off has seen SOL drop to lows of $29.85 after a long-term bearish market that has been seen in the previous days.

Solana, one of the fastest-growing ecosystems in the crypto space, has announced the rollout of new features to enhance the stability of its network. Solana's Stability Update The platform suffered severe performance degradations on three different occasions in the last…

The Solana new gas fees will not make the network expensive according to the co-founder of the platform Anatoly Yakovenko which we are reading more about in our latest blockchain news. Solana new gas fees structure could lead to gas wars for big NFT drops but it won't cause the fees to rise on the

Solana price analysis is showing bullish signs once again after an extended period on the sidelines where price crashed to a 3-month low at $26.06. SOL has been subject to bearish dominance largely since July 2021 which has pushed price down almost 88 percent from the all-time high of $259.90.

SOL was nearly 10% higher on Thursday, as crypto prices rebounded following recent losses. The rebound comes a day after the latest Fed rate hike, with TRX also gaining on the news. Solana (SOL) SOL was trading higher during today's session, spurred by the latest Federal Reserve rate hike. Following a low of $28.46 on

SOL was once very popular as it emerged on the heels of Solana's aggressive growth, aiming to be the Ethereum killer. Fast forward to present day, however, and Solana is not as hyped as it used to be.