Solana Struggles to Remain in the Top 20 as Prior Ties to FTX and Alameda Wounded the Project

Amid the market chaos within the crypto economy and following the climactic FTX collapse, the crypto asset solana has been one of the hardest hit during the last 30 days. Since FTX's fallout, the digital currency lost 8.5% over the last month against the U.S. dollar and to date, it's down 94.

Timeline of Solana

Solana (SOL) Price News: A Decentralized Finance (DeFi) protocol on Solana blockchain experienced an exploit that drained as many as $2 million in user assets. According to reports, owner authority was overtaken by attacker on the Raydium Protocol.

On the day following the implementation by the US Federal Reserve of the 50-basis point hike, Solana (SOL) saw accumulation rather than a sell-off, despite the altcoin's 4% decline. Prices for Bitcoin and Ethereum and other cryptocurrencies fell on December 14 as reports surfaced that the central bank raised its interest rates.

Solana's (SOL) active developers have declined by over 90% to 75 developers from around 2,500 recorded in January, according to Token Terminal data. The post Solana active developers decline 90% in 2022, but SOL devs dispute findings appeared first on CryptoSlate.

In this episode of The Scoop, Solana co-founders Raj Gokal and Anatoly Yakovenko discuss how Solana initially became intertwined with FTX, and when they first started to notice that Sam Bankman-Fried's ambitions diverged from the crypto ethos. The post Why FTX's collapse is a ‘crucible moment' for Solana appeared first on The Block.

In a meeting session hosted on Solana Mobile on twitter, the platform officially announced the saga developer kit program launch in the presence of developers and different partners.

Solana price analysis continues to show a bearish sight, as price trods along a horizontal trend that was set on November 24, around the $13.5 mark. Over the past 24 hours, SOL price jumped as high as $14.42, before receding back to $14.00 at the time of writing.

Solana's [SOL] rebound to the $14.80 price mark prior to the Federal Reserve's meeting on 14 December caused it to lead the cryptocurrency market with the highest intraday rally.

Institutional investors have kept on betting on the smart contract platform Solana ($SOL) through investment products focusing on the cryptocurrency. Their bets come weeks after the collapse of FTX and after SOL's price crashed.

Amid the ongoing recovery sentiment in the crypto market, the Solana price rebounded from the local support of $12.75. this bullish reversal carried the price rally of 15.3% in the last two days.

On Tuesday (13 December 2022), James Mullarney, the host of the very popular YouTube channel “InvestAnswers”, shared his thoughts on Solana ($SOL). Here is how Coinbase described Solana in a blog post published on 29 June 2022: “Solana is a decentralized computing platform that uses SOL to pay for transactions.