Solana was scrutinized extensively after speculations appeared connecting it to the bankrupt FTX. The network’s perception of FTX was drastically altered by the occurrence, and the resulting fear, uncertainty, and doubt (FUD) proved challenging to dispel.
Almost 9% of the token’s value was wiped out today, perhaps because of the fallout from the exchange’s downfall, indicating a deepening bear market.
In addition, the CryptoSlam data reveals that the NFT market in the ecosystem has been experiencing severe declines in trading volume and new buyers.
DeFiLlama also reported that SOL’s TVL had dropped by another 10%. When compared to the all-time high in TVL in November of $1.02 billion, the current value of $265.43 million represents a staggering drop of 73.46%.
Data from Messari, however, indicates that Solana is very much alive.
Getting Rid Of Security Bugs
Messari’s latest coin report notes various activities, even if the ecosystem does not have a clearly articulated road
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