What Is FTX Solana Connection? Here's What We Can Expect From SOL In 2023
December 31, 2022
Story: Mohd Javed
While Solana has no direct relation to FTX, the now-defunt SBF’s crypto exchange, through Almeda, stands to be a major investor in the Solana project.
SOL experienced a severe price decrease and poor price action over the previous 48 hours.
Once boasting a market value of nearly $80 billion, it's now just $3.4 billion.
According to the experts, Solana which has fallen from $178 to slightly more than $10 this year, could move in either direction over the next 12 months.
Interestingly, the blockchain, once regarded as an “Ethereum Killer,” has received support from Ethereum co-founder Vitalik Buterin.
He believes Solana still has intrinsic value and can recover from its current predicament.
Despite the fall, Chris Burniske, former crypto head at ARK Investment Management, tweeted that Solana price will recover ahead and people will be haunted by the thought that they should have bought the SOL at $10.
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