I wasn’t even planning to put in writing this text, however when Solana dropped 10% in a day, sparking panic, it grew to become clear we have to break it down. Is that this an precise disaster, or simply one other overreaction in crypto? Let’s take a look at the info and separate worry from actuality.
Solana was holding robust in opposition to Bitcoin — till it hit a significant assist degree and broke. If it doesn’t bounce again shortly, there isn’t a lot stopping it from going decrease. That’s why merchants are nervous.
Some are even evaluating this to the FTX collapse, however let’s be actual:
- FTX was a catastrophe as a result of Solana relied closely on it.
- Again then, the ecosystem was tiny, and improvement was simply getting began.
- In the present day, Solana is without doubt one of the busiest networks, with thousands and thousands of lively customers and real-world adoption.
So, no — it’s not the identical as FTX. That is short-term panic, not a basic failure.
Take a look at my article on how Argentina’s crypto scandal performed a significant position: https://wire.insiderfinance.io/argentinas-crypto-scandal-here-s-what-i-discovered-e010a003fb74
It’s not Solana’s know-how that’s the difficulty — it’s what individuals have been constructing on it.
- Meme cash began out enjoyable, however insiders took…
