Solana S Sol Coin Is Getting Absolutely Wrecked As The Ftx Binance Deal Is Likely To Fall Apart And Investors Dread The Upcoming Supply Overhang Update Game Over For Ftx
The fallout from the insolvency of the crypto exchange FTX keeps growing as investors wonder which project will be the next to go under amid ricocheting margin calls and decimated DeFi portfolios. With FTX’s founder, Sam Bankman-Fried (SBF), playing such a pivotal role in the launch of Solana, it is hardly surprising that the blockchain’s native SOL coin is getting utterly eviscerated today. At the time of writing, Solana’s SOL token is down 43 percent over the past 24 hours as opposed to Bitcoin’s 16 percent loss in the same timeframe....