Cryptoverse: So long, Solana? Ether rival clobbered by FTX crash

Published by
Reuters UK

By Lisa Pauline Mattackal and Medha Singh (Reuters) – Solana, a poster coin of the crypto future, is in trouble. The cryptocurrency, which had been lauded by FTX’s founder Sam Bankman-Fried, has been hit harder than any other major coin by the collapse of the exchange. The Solana token, or SOL, has dropped 53.8% since the furor began unfolding on Nov. 2. By comparison, ether has fallen about 20% and bitcoin 19%. “In the current crypto shakeout, the most unfortunate innocent victim is the Solana ecosystem,” said Stefan Rust, CEO of blockchain wallet company Laguna Labs. He and several other cry…

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