Bitcoin24h $80,608.75-1.78%

Ethereum24h $1,544.94-4.37%

XRP24h $2.00-0.37%

BNB24h $579.28+0.07%

Solana24h $115.50-0.52%

Dogecoin24h $0.1566-0.06%

TRON24h $0.2349-2.63%

Cardano24h $0.6259+0.58%

UNUS SED LEO24h $9.41+0.32%

Chainlink24h $12.36-0.59%

Solana Saga: The DeFi phone you don’t need

Will the second $1,000 crypto phone in the past five years do better than its predecessor, the Finney? Early indicators aren’t too promising.

Solana’s close ties to FTX cause financial and structural damage

Since it became clear that FTX and Alameda were struggling, the price of SOL has dropped over 50%, far greater than other network tokens.

Solana is down by 50% since Saturday and one million Solana tokens look set to be unstaked and dumped on the market any moment now.

On-chain researchers suggest FTX may be pulling assets from Solana’s Wormhole protocol to make sure it can cover liquidity needs.