Solana (SOL) has turned out to be one of many greatest losers among the many prime cryptos in 2022. Solana price dropped below the essential $10 value stage making it onerous for the community to hope for a recovery. Nonetheless, this report suggests the place Solana Blockchain can head from this mega disaster.
Solana TVL down by 97%
Solana entered the yr 2022 with a buying and selling value of round $172. In the meantime, SOL value has dropped by over 94% on yr up to now (YTD) foundation to commerce at a median value of $9.43, on the press time. Its market cap has shrunk to face at $3.4 billion.
As per the information, the Solana community’s Total value locked (TVL) is down by 97%. The current collapse of SBF’s FTX and Alameda has dragged the token into the max turbulence zone. These two have been the largest backers of SOL. Coingape reported that Arthur Hayes, co founding father of the BitMEX crypto trade known as Solana a Shitcoin.
Solana even laid out the main points of its publicity to FTX. It talked about $1 million money, 3.24 million shares of FTX, and three.42 FTT tokens. Whereas it additionally held 134.54 million SRM tokens that are caught on the FTX token. Nonetheless, 50.5 million SOL had been vesting with Alameda Analysis.
The place does Solana Blockchain Go From Right here?
Report talked about that Serum and Solana’s CLOB was a crucial transfer for the DeFi infrastructure. Nonetheless, the Serum program replace key wasn’t managed by the SRM DAO. This straight implies that the hacker who stole property from FTX can viciously replace Serum.
In the meantime, the Solana neighborhood rushed to the scenario, and to be able to treatment the harm it created Openbook dex. OpenBook is claimed to be a DAO the place all the event is sourced from individuals who refused to desert the community. Nonetheless, the DAO is utilizing SRM tokens however a brand new token could be made forward.
A very powerful query right here stands the place will Solana can go from right here? As per reviews, Firedancer, an unbiased validator for Solana Blockchain, constructed on Soar will probably be scaling throughput, sustainability and effectivity.
Whereas Anatoly Yakovenko, Co-founder of Solana Labs flashed his Saga cellphone at a current occasion. Whereas Openbook is on a mission of saving Solana DeFi. Nonetheless, Aurory, a Solana-based blockchain gaming challenge will make one of many first Web3 video games on a cellular system.
The offered content material might embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty in your private monetary loss.