SOL has jumped 7x in value since the FTX-induced downturn.
Solana’s network advantages and a loyal developer community helped script a comeback.
Around this time last year, Solana [SOL], the popular smart contracts network, was grappling with perhaps its biggest challenge.
One of the world’s largest crypto exchanges at that time, FTX, collapsed spectacularly, triggering a knock-on effect on entities with exposure to the bankrupt platform. The Solana ecosystem was one of them.
While not directly related to FTX, SOL was widely endorsed by the disgraced co-founder of the exchange Sam Bankman-Fried (SBF). So much so that critics held SBF’s campaigning partly responsible for the token’s price hike seen previously.
Apart from this, FTX made significant investments in projects built on the blockchain.
Little did Solana proponents know that the association would come back to haunt them big time.
The fall and rise
Native token SOL plunged to historical lows in the days following the imp
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