#BinanceHalloween My journey.
January night in 2021, I embarked on a journey into the cryptic realm of Solana The moon cast an eerie glow on the market, as Solana's token, known as SOL, stood at a mere $1, seemingly lost in the shadows of its more prominent crypto cousins.
The gaming industry had become a cauldron of excitement, with NFTs bubbling to the surface on the Solana network. A spooky excitement coursed through the community as more than 350 projects emerged, like specters, bringing hope and a sense of unworldly wealth.
I watched in awe as Solana's price soared, like a ghostly apparition, from the depths of a dollar to the towering summit of $260 by November 2021. It was a thrilling ride through the haunted halls of crypto, with riches just beyond my grasp. The allure of the NFT launches and the whispering promises of Solana's future lured me further into this ghostly domain.
But Just like Ethereum, Solana had no supply cap. As the days grew shorter, several top NFT projects, such as DeGods and Y00ts, announced their migration to Ethereum.
The trading volume on Solana-based projects dwindled like a dying flame, plunging the market into a deep, unrelenting darkness. The ominous clouds of misfortune gathered over Solana, and in a blink, over $50 billion of its market cap vanished into thin air, a 96% fall in value that sent shudders down my spine.
Solana had become a target for malevolent forces, experiencing countless hacking events that drained the wallets of innocent users. DDoS attacks struck the network like a relentless storm, causing it to collapse, leaving its users in a state of despair. Only with great effort could the network be resurrected, and the scars of these attacks still haunt the memory of that fateful time.
And as Halloween approaches, I share this harrowing tale of my venture into the cryptic world of Solana. It serves as a reminder that in the world of cryptocurrencies, where riches and terrors reside side by side, one must tread with caution, for the ghosts of the market can rise to haunt you.