These Solana Numbers May Scare Off SOL Investors – Here's Why

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.

Timeline of Solana

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.

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.