Solana (SOL) has turned out to be one of many largest losers among the many high cryptos in 2022. Solana price dropped underneath the essential $10 value stage making it onerous for the community to hope for a recovery. However, this report suggests the place Solana Blockchain can head from this mega disaster.
Solana TVL down by 97%
Solana entered the 12 months 2022 with a buying and selling value of round $172. Meanwhile, SOL value has dropped by over 94% on 12 months 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 info, 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 most important backers of SOL. Coingape reported that Arthur Hayes, co founding father of the BitMEX crypto alternate known as Solana a Shitcoin.
Solana even laid out the small print of its publicity to FTX. It talked about $1 million money, 3.24 million shares of FTX, and three.42 FTT tokens. While it additionally held 134.54 million SRM tokens that are caught on the FTX token. However, 50.5 million SOL have been vesting with Alameda Research.
Where does Solana Blockchain Go From Here?
Report talked about that Serum and Solana’s CLOB was a important transfer for the DeFi infrastructure. However, the Serum program replace key wasn’t managed by the SRM DAO. This straight implies that the hacker who stole belongings from FTX can viciously replace Serum.
Meanwhile, the Solana group rushed to the state of affairs, and as a way to treatment the injury 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. However, the DAO is utilizing SRM tokens however a brand new token could be made forward.
The most necessary query right here stands the place will Solana can go from right here? As per stories, Firedancer, an impartial validator for Solana Blockchain, constructed on Jump might be scaling throughput, sustainability and effectivity.
While Anatoly Yakovenko, Co-founder of Solana Labs flashed his Saga cellphone at a current occasion. While Openbook is on a mission of saving Solana DeFi. However, Aurory, a Solana-based blockchain gaming undertaking will make one of many first Web3 video games on a cellular gadget.
The introduced 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 on your private monetary loss.
