In an update released two days ago, Coin Bureau looked at how the collapse of SBF’s FTX empire could impact the price of $SOL, the native token of the Solana blockchain.

According to a report by The Daily Hodl, on Thursday (18 November 2022), the pseudonymous host of the popular crypto market commentary show, had this to say about Solana:

“… it’s clear that the demand for SOL is down, and it’s easy to understand why... Some have begun to question Solana’s future. And this is in large part due to the massive amount of SOL that FTX and Alameda will be forced to sell when the time comes to compensate their creditors...

“To make matters worse, the bottom of the crypto bear market probably isn’t in yet. This means that SOL will go lower even without all the sell pressure from these entities... Its long-term price chart suggests SOL could fall to $8. This would be consistent with the estimated percentage loss in other large altcoins.“

(By Siamak Masnavi)