Solana Loses 60% Of Its Market Value After FTX Collapse – Can SOL Bounce Back This Week?

Solana Loses 60% Of Its Market Value After FTX Collapse – Can SOL Bounce Back This Week?


The Solana (SOL) ecosystem, according to Laguna Labs Chief Executive Officer (CEO) Stefan Rust, took a harder hit compared to other major digital coins such as Bitcoin and Ethereum following the collapse of the FTX crypto exchange.

Here’s a quick glance at SOL performance:

Following the collapse of FTX, Solana lost almost 60% of its market value SOL has gone up by 2% over the last 24 hours, trading above the $14 marker Solana coins deposited on blockchain decreased sharply, from 68 million in June to just almost 25 million now

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“In the current crypto shakeout, the most unfortunate innocent victim is the Solana ecosystem,” Rust said.

The CEO noted that the network’s native token, SOL, dropped by nearly 60% since FTX collapsed.

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