The expert of the analytical company Santiment spoke about the distrust of Solana. He noted that in recent days and weeks, the cryptocurrency community has developed a negative opinion about the digital currency. Over the past month and a half, many virtual assets have suffered (for example, REN and SNX). All of them were associated with FTX and Alameda Research. However, SOL has fallen in value very significantly.
The value of the cryptocurrency has plummeted in just a couple of days. This happened even before the news about the possible collapse of FTX appeared. From November 5 to December 28, 2022, the price of SOL fell by 73%. The market value was below $10 for the first time since February 22, 2021.
The other day, traders tried to open a long position at a strongly rolling back asset price. However, an almost instantaneous drop of 8% caused a wave of liquidations. Those who traded short were very happy with the SOL rate.
Criticism of SOL is obvious. It is related to the fundamental problems of project development and network outages, as well as support from Alameda Research. Citing several articles from reliable sources, analysts assured that the former head of FTX Sam Bankman-Fried and his exchange had a very strong negative impact on Solana, which flourished throughout the bull market in 2021.
As of 11:11 Moscow time on December 28, 2022, the SOL cryptocurrency was trading at $10.13, having lost about 10% of its price over the past day.
