However, the SOL is now showing astonishing growth, with the price up almost 90% in the last 30 days. The coin jumped to $46.90 this week.
Yakovenko acknowledged that the sharp drop in the SOL rate due to the FTX collapse was a “bitter pill to swallow,” but those unpleasantries pale in comparison to the damage that has been done to ecosystem projects. About 20% of Solana-based projects received investment from crypto exchange FTX or its subsidiary Alameda Research, and only 5% of ecosystem startups held funds on this trading platform. Falling rates sure suck, but cryptocurrencies move up and down all the time. The high-profile Bankman-Fried trial has effectively come to an end – on Nov. 3, he was found guilty on all seven charges