Solana crypto token loses most of its value in 2022, FTX collapse weighs

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Solana crypto token loses most of its value in 2022, FTX collapse weighs
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NEW YORK : The price of Solana, a cryptocurrency token that had been lauded by FTX founder Sam Bankman-Fried, fell 10.36 per cent on Wednesday, and is down 94.2 per cent so far in 2022. The collapse of FTX has rippled across the industry, hobbling liquidity at firms with exposure to what was once one of

NEW YORK : The price of Solana, a cryptocurrency token that had been lauded by FTX founder Sam Bankman-Fried, fell 10.36 per cent on Wednesday, and is down 94.2 per cent so far in 2022.

Solana, or SOL, is the token behind the upstart Solana blockchain, which supports smart contracts, including non-fungible tokens, and has emerged as a rival to the ethereum blockchain. While Solana has no direct relation to FTX, and had limited exposure to the failed exchange, its association with Bankman-Fried has been a drag.

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