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]. Factors such as the Project Serum and Sollet-wrapped assets played a significant […]
central order book on the backend of almost every non-AMM piece of the Solana DeFi ecosystem. An unknown entity held the upgrade keys for the Project Serum at FTX, which caused panic among the SOL community.
Fortunately, changes were made quickly. Project Serum was forked and the chances of being vulnerable to a hack were reduced.that was impacted was the Sollet-wrapped tokens. As can be seen from the image below, soBTC, which was supposed to be pegged to BTC, was unpegged over the last few days. This was due to the FTX/Alameda issued Sollet-wrapped assets, and as the news of FTX’s failure spread, soBTC was affected negatively.Despite the FUD surrounding SOL…As per the image below, Solana’s blue chip NFT floor price witnessed a significant spike over the last few weeks. This would indicate that people from the crypto community still showed interest in major Solana NFTs., since 1 November, Solana’s NFT trading volume went from 183,000 all the way to 66,000 at the time of writing.
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Solana: Gauging if HODLing SOL is really the way to go in the near termDisclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Solana witnessed a bearish continuation pattern after its recent breakdown. The altcoin’s funding rate across all exchanges slightly improved but still stood negative. Post the FTX drama, Solana’s [SOL] association with Sam-Bankman Fried propelled the altcoin […]
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Solana [SOL] – What next for holders after exchanges take this drastic stepBinance announced suspension of USDT and USDC (SOL) till further notice; OKX followed suit On the contrary, Kraken announced support for the tokens According to statements released by OKX, Binance, and ByBit, some Solana blockchain tokens may be delisted. No justifications were provided for this move and no mention of re-listing them was made either. […]
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New CEO of FTX blasts its handling of financial informationThe new CEO of the collapsed cryptocurrency trading firm FTX said he has never seen such a \u0022complete failure\u0022 of corporate control.
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Here’s the good news in a post-FTX collapse world…FTX’s collapse has been the single-biggest cause of concern for the crypto-industry, at least in the second half of 2022. The degree of fear and uncertainty that this catastrophic event has induced in the market is evident from the outflow of funds from exchanges and inflows into cold wallets. Market fundamentals remain stable Despite all […]
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FTX bankruptcy filings rebuke SBF, decry ‘complete absence of trustworthy financial information'One week after former CEO Sam Bankman-Fried announced that FTX was filing for Chapter 11 bankruptcy protection, John J. Ray III, the newly-appointed FTX CEO, finally managed to file the company’s ‘first day’ declarations in bankruptcy court.
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New FTX CEO describes ‘unprecedented’ financial disasterRevelations put more scrutiny on Ontario Teachers’ Pension Plan failed US$95-million investment in cryptocurrency exchange
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