Just-In: Crypto Billionaire-Backed Firm Delists Solana (SOL) Products
Another crypto platform parted ways with Solana as TVL and SOL price downfall continues due to FTX contagion. Crypto asset management firm Matrixport will delist Solana and Solana-U dual-currency investment products on December 30. Matrixport is founded by Jihan Wu, a crypto billionaire and co-founder of bitcoin mining hardware giant Bitmain.
Arthur Hayes Calls Solana a “Complete and Utter Shitcoin”
Arthur Hayes, co-founder of the BitMEX crypto exchange said on Twitter that “Solana” is a complete and utter shitcoin. He added that it will be a buy at some point if the mainstream financial press is dunking on it.
Why Solana Was Decimated by Bankman-Fried’s Downfall
Biggest cloud shading Solana’s sunshine is the fall of Sam Bankman-Fried, founder of the FTX exchange and hedge fund Alameda Research.
Solana Suffers Major Setback As Development Activity Plunges, Lost Over 95% of Its Value
Solana lost over 95% of its value since its all-time high last November. A crash of this magnitude has shaken even the most resilient investors to the core.
Solana Sinks Below $10 for First Time in Nearly Two Years
Even with the prices for top cryptocurrencies like Bitcoin and Ethereum sitting relatively stable over the last month, Solana has continued to bleed out. Early this morning, the once-surging altcoin fell below the $10 mark—the first time it has done so in almost two years.
Solana DeFi Project Mercurial to Relaunch As ‘Meteora,’ Replace MER Token
Decentralized finance (DeFi) trading project Mercurial plans to relaunch as “Meteora,” issue a new token to nearly all MER holders and expand its trading lineup in an aggressive attempt to distance itself from Sam Bankman-Fried’s fallen empire.
Ethereum L2 Language Cairo’s TVL Surpasses Solana’s Rust
Programming language compiler Cairo is now the third largest smart contract language by total value locked (TVL), according to DeFiLlama data.
DeGods and Y00ts NFTs are Bridging off Solana.
Nonfungible token (NFT) firm Dust Labs is migrating its two top-performing Solana NFT projects — DeGods and y00ts — onto Ethereum and Polygon in a bid to expand their adoption. The news was announced on DeGods and y00ts Twitter page on Dec. 25, with both NFT projects expected to be officially bridged onto Ethereum and Polygon respectively in the first quarter of 2023. (Cointelegraph)
Deribit Will Cease Offering Solana Inverse Products
After the upcoming 30 December 2022 expiry, Deribit will not list new Solana inverse options or futures.
Machine Learning Algorithm Sets Solana (SOL) Price for January 1, 2023
As the year comes to an end with no significant triggers for a rally on the horizon for Solana, the focus has shifted to how SOL will begin 2023 at a point the network is recording increased development activity.
