Solana has been on a freefall since the collapse of FTX and has not been able to move upwards because of the FUD (fear, uncertainty and doubt) surrounding the ecosystem and its connections with the former crypto exchange.
According to recent news, Solana’s native token SOL has dropped 51.14% since the day FTX fell from grace.
Solana: Dead Or Not Dead?
The current situation might be confusing to investors. Based on data by CoinGeko, the token shot up by 5.4% in the past 24 hours which might be a signal that investor sentiment is reversing. However, the FUD still remains strong around the ecosystem itself.
Messari released an overview of the ecosystem back on December 15. The basic gist of the overview was that Solana is still a solid ecosystem even after the collapse of the Sam Bankman-Fried-led exchange.
However, recent Santiment insight on the ecosystem shows that it might be already dead.
The most notable on-chain development for the token was the significant drop in deve
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