Solana price forecast: can SOL be saved after the latest update?

The co-founder of Solana Labs, Anatoly Yakovenko, made an announcement that all validators need to update to the latest version of the node, 1.13.5. Based on his outlook, the update can fix all of the Solana (SOL/USD) network outages which were caused by the overloading of UDP-based protocols.

Timeline of Solana

According to the Solana price analysis, SOL/USD is currently rising after seeing a steady fall since November 16, 2022. Today, bulls are attempting to increase the coin's value, raising it to $13.12.

Coin Bureau host Guy is sending out a warning that a top Ethereum (ETH) competitor faces more downside risks in the FTX fallout. The Coin Bureau host tells his 2.17 million YouTube subscribers that the collapse of the FTX crypto exchange has made the road ahead for Solana (SOL) difficult.

Solana gets impacted by the FTX debacle; Sollet-wrapped tokens also get affected Solana's Project Serum gets forked; however, the community continues to show an interest in Solana's NFTs One of the major cryptocurrencies that was impacted by the FTX debacle was Solana [SOL].

Recently, a former Goldman Sachs executive explained why this could be a great time to buy $SOL, the native token of the Solana blockchain, despite all the doom and gloom surrounding the Solana ecosystem in the wake of the collapse of FTX.

Over the past 2 years, the Solana network has rapidly risen to be one of the largest blockchains by both market cap and usage. The growth was largely driven by Sam Bankman-Fried who was both a massive investor and voice of the entire ecosystem.

Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding The sudden collapse of FTX and Alameda has sent shockwaves throughout crypto, imparting significant capital losses to a wide range of parties including users, developers, investors, and more Among L1s, the Solana ecosystem was impacted most severely by the incident due to early investments from FTX and Alameda, along with the two companies' roles in providing an extensive range of market-making and infrastructural services for the ecosystem Solana now faces a long and uncertain road to recovery, but steady network performance during the recent crisis offers a glimmer of hope that continued technical updates can lay the foundation for user interest and growth once more in the future 

In a backward move for the Solana ecosystem, stablecoin issuer Tether is set to swap 1 billion USDT on Solana for ERC20 tokens for use on Ethereum The post Tether Ditches Solana, Performs $1 Billion USDT Swap appeared first on BeInCrypto.

A $1 billion chain transfer to convert USDT from the Solana blockchain to the Ethereum blockchain was just announced by stablecoin issuer Tether. Solana's Exposure To FTX The announcement comes as Solana, which was among the top 5 cryptocurrencies by market cap only a few weeks ago, is having problems due to the failure of The post Solana Loses $1 Billion In USDT to Ethereum Due To FTX Collapse appeared first on CoinGape.

The latest Solana price analysis shows a strong downtrend for the cryptocurrency today, as the coin value underwent a noticeable reduction. The ongoing decreasing trend has lowered the cryptocurrency value to a $13.35 low.

Over the last 24 hours, the cryptocurrency market cap saw net inflows of around $8 billion and currently stands at $836.19 billion as of press time — up 0.98% from $828.16 billion on November 17. The post CryptoSlate Daily wMarket Update – Nov. 17: Solana prints losses in mute market performance appeared first on CryptoSlate.