Is "Solana" Will be the Next to get Killed..

AakZaki

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Quote from: Blowon on November 12, 2022, 05:12:19 PM

the current situation is very worrying, this year there is a big project that is almost and can be said to be bankrupt, many people don't think that it can't happen, here I realize that in crypto anything can happen, solana must also have a huge impact just because of FTX, Hopefully all the founders think smarter and sane, to recover the sympathy of investors not only for Solana but for the public
Sad

just overnight a strong crypto or exchange like FTX can collapse and go bankrupt, let alone just an ordinary project, it would be very easy. Indeed, not only Solana, but all cryptos were affected because of this FTX incident. SBF as the CEO of FTX just stated that they were bankrupt and there was no new solution to restore everything. All of the founders actually thought intelligently, but we also don't know that behind this intelligence there is the figure of a greedy human being who is their second personality. We can all learn from this FTX incident not to entrust all assets to a centralized exchange, it would be very risky.

Baofeng

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Quote from: talkoncrypto Official on November 09, 2022, 01:26:39 AM

Market realizing that Binance now owns 10% of the tokens and that he would rather support BNB chain than SOL. Also Solana just lost all the support and investment that FTX were making in the ecosystem. Is solana going to suffer and what could be its repercussions on the whole crypto economy..

Barely breathing at this point, but for sure it has been affected negatively by the FTX collapse.

As we all know, they are tied to Alameda which lost to FTX. So if by chance, Alameda will have to sell their Solana just to get back to business on the money they have lost to FTX. So very difficult to them to bounce back, they have to raised funds. But nobody wanted to invest on them because of just what had happen.

Probably they will be lost in the oblivion in this bear market as one collateral damage because of FTX.

OgNasty

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I think there’s concern about Solana for sure. The Google news was positive for the network but FTX going down is bad for the price. Now with the wrapped Bitcoin issues you have to wonder how many people have lost confidence in Solana. It seems to be mostly favored by young people and those somewhat new to crypto and don’t have the same decentralization values as the older folks. I think the time to sell is probably in the rear view, but I’d rather own BTC over SOL.

bittick

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solana is definitely gonna gets impacted since it's actually just some kind of overrated platform, you see with solana there's actually very few good quality projects that could helps it in retaining its value, even the NFT trend was rather short lived in this platform, it's unlike matic where it has real good quality project increasing its value and helps retaining their value for long term, it's unlike solana where it's just all short lived trends, even though i'm sure that it will eventually recover itself.

crzy

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Quote from: talkoncrypto Official on November 09, 2022, 01:26:39 AM

Market realizing that Binance now owns 10% of the tokens and that he would rather support BNB chain than SOL. Also Solana just lost all the support and investment that FTX were making in the ecosystem. Is solana going to suffer and what could be its repercussions on the whole crypto economy..

Depends on how true the FUD is, with SOL they are already suffering from a big price drop and that could be an indication that many are already panicking. What SOL can do is to have a statement that assures their investors for a more strong system and they are prepared for the worst scenario. If SOL will published as well their financial status and holdings, maybe it can increase the trust of many and will start not to believe on those FUD.

rhomelmabini

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Quote from: bittick on November 11, 2022, 06:34:57 PM

solana is losing 50% of its value and even more but I think it's still have the chance of recovery, I don't think solana will get killed and become in a bad state as bad as luna since it's definitely different case with luna, but there's definitely higher chance for solana becoming like luna than the other coin since it's the ones that got impacted so heavily this time around.
but then again, the coin itself is fine, even tho there are quite many people that considers solana as bad investments considering so many bad news revolving around this coin, it wouldn't just lose its market capitalization that easily.

The FUD was regarding the probability that Alameda and FTX has lot of bags to dump onto retail but imagine after that? There are lot of devs and it has strong support from the community, it will just a no-brainer if you can catch that dump. They had just partnered with Google Cloud recently and it's still one of the largest chain in the crypto space tbh. Bear market and that FTX bankruptcy will end but I think Solana's technology will remain and continue.

Blowon

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Quote from: AakZaki on November 12, 2022, 04:53:03 PM

Quote from: serjent05 on November 11, 2022, 05:31:22 PM

If the main backer of Solana is down, then definitely its market will be greatly affected. Though I do not think that CZ will intentionally ruin Solana, if ever CZ founds any irregularities on Solana's team, I believe he will not hesitate to dump his holdings. I agree it won't be that fast for Solana to lose the support of investors but if they don't come up with a good plan, SOL investors will slowly turn away. Right now there are lots of FUD lurking in the Solana economy, hopefully, the project management team will come up with an idea on how to suppress these FUDs.

FUDs are increasingly emerging. A few hours ago Solana started Recovery and the market started to improve, but when some FUDs also started coming the market crashed again and SOLANA even other coins continued to drop in price.
Investor support for Solana is certainly still quite good, this is because Solana is only affected because it is in Alameda's portfolio. But I'm pretty sure solana will still get up and fix things, so that it can avoid even more impact. Solana Needs positive news that will build and restore the confidence of all investors

the current situation is very worrying, this year there is a big project that is almost and can be said to be bankrupt, many people don't think that it can't happen, here I realize that in crypto anything can happen, solana must also have a huge impact just because of FTX, Hopefully all the founders think smarter and sane, to recover the sympathy of investors not only for Solana but for the public
Sad

AakZaki

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Quote from: serjent05 on November 11, 2022, 05:31:22 PM

If the main backer of Solana is down, then definitely its market will be greatly affected. Though I do not think that CZ will intentionally ruin Solana, if ever CZ founds any irregularities on Solana's team, I believe he will not hesitate to dump his holdings. I agree it won't be that fast for Solana to lose the support of investors but if they don't come up with a good plan, SOL investors will slowly turn away. Right now there are lots of FUD lurking in the Solana economy, hopefully, the project management team will come up with an idea on how to suppress these FUDs.

FUDs are increasingly emerging. A few hours ago Solana started Recovery and the market started to improve, but when some FUDs also started coming the market crashed again and SOLANA even other coins continued to drop in price.
Investor support for Solana is certainly still quite good, this is because Solana is only affected because it is in Alameda's portfolio. But I'm pretty sure solana will still get up and fix things, so that it can avoid even more impact. Solana Needs positive news that will build and restore the confidence of all investors

bittick

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solana is losing 50% of its value and even more but I think it's still have the chance of recovery, I don't think solana will get killed and become in a bad state as bad as luna since it's definitely different case with luna, but there's definitely higher chance for solana becoming like luna than the other coin since it's the ones that got impacted so heavily this time around.
but then again, the coin itself is fine, even tho there are quite many people that considers solana as bad investments considering so many bad news revolving around this coin, it wouldn't just lose its market capitalization that easily.

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Quote from: tjtonmoy on November 10, 2022, 12:22:33 PM

I think SOL is just overrated. It had it's moments and hype and now no one even talks about it. All i see is ETH BTC BNB all over the place. And people are more confident in using those chain which are already well know and doing well.
I have no certain idea about what to come next for Solana blockchain. Maybe it could survive or maybe not. Time will tell.

I agree with you too. I think SOL was popular because of the big hype and price increase. Especially when Alameda was the owner of the position. But when things got bad and Alameda might go bankrupt, SOL is in for a tough time. ETH has a successful owner Buterin, BNB has a successful owner CZ, TRX has a successful owner Justin Sun. SOL no longer has a successful owner.

This could be another threat for them which I believe, they should start preparing for the worst.
SOL is a good project, and for them to survive they should have a good back up plan so when things didn’t go well according to their plan, there’s a plan b than can save them. Many predicts SOL to experience the same faith with FTX and LUNA, this could result to a more worst market so hopefully they will start working for the improvements.

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Quote from: AakZaki on November 10, 2022, 05:21:27 PM

I don't think it will be that easy for Solana to fall deeper like what happened to LUNA. Solana developers must have thought about how they should maintain solana so as not to be too affected by the loss of support from the FTX ecosystem. Solana was also affected by rumors of an unstake of 28.5 million SOL which was delegated to validators as part of the Solana Foundation delegation program. this is because Hetzner removed many of Solana's independent validators in light of Hetzner's policy changes. and plans to unstake have now been postponed, and all 28.5M SOL has now been staked back.

If the main backer of Solana is down, then definitely its market will be greatly affected. Though I do not think that CZ will intentionally ruin Solana, if ever CZ founds any irregularities on Solana's team, I believe he will not hesitate to dump his holdings. I agree it won't be that fast for Solana to lose the support of investors but if they don't come up with a good plan, SOL investors will slowly turn away. Right now there are lots of FUD lurking in the Solana economy, hopefully, the project management team will come up with an idea on how to suppress these FUDs.

tjtonmoy

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Quote from: serjent05 on November 10, 2022, 02:53:03 PM

The part where SOL was highly talked about was when the NFT hype was at its peak. Now that NFT hype had go down a lot, Solana as expected is greatly affected. And now one of its backers the FTX got an issue, I think the SOL market will continue to decline because of this series of events. Though, I still believe CZ won't crash any project token they are holding unless they have a valid reason to dump its holdings to save losses from its falling market. I hope that CZ is a responsible individual and won't do anything harsh to damage other blockchain projects.

not sure about anything regarding CZ. that man is unpredictable. he can do anything. FTX Having this issue can cause a great effect on SOL.
NTF still holds some hype in the market, and yet Solana keeps rejecting. Don't know where it's heading but if it's gonna keep doing this then the future is dark for SOL.
I will still hold some hope on this tho.

Questat

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Quote from: talkoncrypto Official on November 09, 2022, 01:26:39 AM

Market realizing that Binance now owns 10% of the tokens and that he would rather support BNB chain than SOL. Also Solana just lost all the support and investment that FTX were making in the ecosystem. Is solana going to suffer and what could be its repercussions on the whole crypto economy..

I don't want to think about as I was trusting and believed this project before I sold my coins but unfortunately, the situation has been changing and it looks like Solane has been rejected by many investors. I suppose to have them back in my wallet but something in the news hold me. I wasn't to believe what I see now but sometimes we have to accept that only a project that have usable platform and working product will being going to stay in the market while the others will collapse and have their final destination.

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Quote from: pawanjain on November 10, 2022, 12:38:06 PM

Quote from: Polkeins on November 10, 2022, 01:43:45 AM

Quote from: ice18 on November 09, 2022, 11:36:47 PM

Quote from: Polkeins on November 09, 2022, 02:49:25 PM

Quote from: pawanjain on November 09, 2022, 12:44:59 PM

Its a very tough time for Solana to be honest. I still think Solana has a really good tech and ecosystem but at the same time the current events show that it will be very very hard for Solana to recover from the sudden dump.
Only time will tell if the support for Solana is still present or all of them have sold their bags.
I was a strong supporter of sol once but due to outages I cut short my bag of SOL.
I still hold some of it though which is why I am concerned about the dump.

Difficult times are an understatement.
Tomorrow the 60 million of Sol should hit the market and I think the rate will fly down like a stone off a cliff.
https://solanacompass.com/validators/change
The project has almost no support, solana network periodically fails, the funders have kept most of the distribution (oh, this greed). In general, all the conditions for the collapse of the project, we will wait.

5 hours remaining before unstake,? wow that was huge amount of Sol going to flood in the market for sure whale stakers who got liquidated in the last 24 hours will dump SOL and buy bitcoin lets see what will happen after 5 hours, can we see another huge price crash in the market?

While the price of Solana has stabilized, I do not think that everyone will immediately start to sell the SOL because it will be an automatic collapse, and I think no one wants to go badly into minus. Therefore, I think they will wait for a more favorable moment to sell Solana for 10 or 15 dollars, because it's cheap, right? After all, and took 200, which means that the 10 is just free.
Although in the long term, the project is most likely over.

Seems like people did not dump their SOL after unstaking because we did not see a major impact on the price.
It did went down to $12 but currently its around $18 which is not bad thanks to minor pump.
I hope things get settled down here and no further dump occurs in the market. Enough of bleeding already.

Solana has a lot of large holders, and the distribution itself there was also essentially among the founders and large funds.
It is clear that now they are not interested in the price of SOL to fall, they want to leave it with the maximum profit, although at the premarket price there was less than $ 1. That's why they almost got their profit.

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Quote from: Strongkored on November 10, 2022, 01:45:43 AM

It is very likely to happen and now the price has started to show that after the news of the collaboration with google cloud which has a positive impact now that the SBF drama is quite damaging the positive impact of the good news a few days.
There is a theory that Alameda Research might sell Solana for fresh funds https://www.coindesk.com/markets/2022/11/07/solana-falls-and-speculation-centers-on-links-to-sam-bankman-frieds-ftx-alameda/
and the speculation is enough to create panic and retailers should be to sell SOL and exit this market as soon as possible.
This should be a warning to altcoin holders that none of these altcoins are safe they are interrelated, bad news on other coins will affect anothers and it must always be remembered that retail is the one who suffers the most.

Considering we are already in a horrible bear market, anything that could be understood as a risky bad move or at least some reason to drop the price, people will scatter around and sell whatever they can sell.

I know that it is not going to be easy to justify some sale because they need fresh funds, because everyone needs funds right now, wait until the bull run starts, and both crypto and SOL could go up for a while before you can sell. If they need funds they need to just wait for it just like everyone else. If they end up unloading on the investors right now, when all looks bad then it will definitely cause a lot of trouble and the price may crash even harder than the market.

AakZaki

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I don't think it will be that easy for Solana to fall deeper like what happened to LUNA. Solana developers must have thought about how they should maintain solana so as not to be too affected by the loss of support from the FTX ecosystem. Solana was also affected by rumors of an unstake of 28.5 million SOL which was delegated to validators as part of the Solana Foundation delegation program. this is because Hetzner removed many of Solana's independent validators in light of Hetzner's policy changes. and plans to unstake have now been postponed, and all 28.5M SOL has now been staked back.

eaLiTy

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Quote from: Tytanowy Janusz on November 09, 2022, 07:10:39 AM

~
Its just a smart contrat platform that no one is using. There is no big dex, not so much of TVL, not much userbase. Nothing will happend to whole crypto economy. Maybe people will be more sceptical about investing in shitcoins - which has net positive impact on market. SOL is only a overhyped, overpriced project.

There is no doubt that Solana got a lot of hype when ETH was literally struggling and they created an ecosystem as the next big thing that is able to sustain and scale. FTX was a major promoter in the project and now with their struggles, we are yet to see how it will survive because the network outages were a big issue and if it continues like this all the projects that started will migrate to other chains.

serjent05

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Quote from: tjtonmoy on November 10, 2022, 12:22:33 PM

I think SOL is just overrated. It had it's moments and hype and now no one even talks about it. All i see is ETH BTC BNB all over the place. And people are more confident in using those chain which are already well know and doing well.
I have no certain idea about what to come next for Solana blockchain. Maybe it could survive or maybe not. Time will tell.

The part where SOL was highly talked about was when the NFT hype was at its peak. Now that NFT hype had go down a lot, Solana as expected is greatly affected. And now one of its backers the FTX got an issue, I think the SOL market will continue to decline because of this series of events. Though, I still believe CZ won't crash any project token they are holding unless they have a valid reason to dump its holdings to save losses from its falling market. I hope that CZ is a responsible individual and won't do anything harsh to damage other blockchain projects.

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Quote from: talkoncrypto Official on November 09, 2022, 01:26:39 AM

Market realizing that Binance now owns 10% of the tokens and that he would rather support BNB chain than SOL. Also Solana just lost all the support and investment that FTX were making in the ecosystem. Is solana going to suffer and what could be its repercussions on the whole crypto economy..

This one altcoin is indeed very vulnerable in my opinion from the hacker case on the Solana network to the unstake of tens of millions of SOL making Solana a strong candidate for the next LUNA,
but indeed from a fundamental point of view Solana cannot be underestimated, because the Solana blockchain network has also become a top public the best blockchain after Ethereum and Binance Smart Chain,
yes maybe because we are in bear season making altcoins more vulnerable to FUD, so make sure we are wise in trading or investing.

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Quote from: Polkeins on November 10, 2022, 01:43:45 AM

Quote from: ice18 on November 09, 2022, 11:36:47 PM

Quote from: Polkeins on November 09, 2022, 02:49:25 PM

Quote from: pawanjain on November 09, 2022, 12:44:59 PM

Its a very tough time for Solana to be honest. I still think Solana has a really good tech and ecosystem but at the same time the current events show that it will be very very hard for Solana to recover from the sudden dump.
Only time will tell if the support for Solana is still present or all of them have sold their bags.
I was a strong supporter of sol once but due to outages I cut short my bag of SOL.
I still hold some of it though which is why I am concerned about the dump.

Difficult times are an understatement.
Tomorrow the 60 million of Sol should hit the market and I think the rate will fly down like a stone off a cliff.
https://solanacompass.com/validators/change
The project has almost no support, solana network periodically fails, the funders have kept most of the distribution (oh, this greed). In general, all the conditions for the collapse of the project, we will wait.

5 hours remaining before unstake,? wow that was huge amount of Sol going to flood in the market for sure whale stakers who got liquidated in the last 24 hours will dump SOL and buy bitcoin lets see what will happen after 5 hours, can we see another huge price crash in the market?

While the price of Solana has stabilized, I do not think that everyone will immediately start to sell the SOL because it will be an automatic collapse, and I think no one wants to go badly into minus. Therefore, I think they will wait for a more favorable moment to sell Solana for 10 or 15 dollars, because it's cheap, right? After all, and took 200, which means that the 10 is just free.
Although in the long term, the project is most likely over.

Seems like people did not dump their SOL after unstaking because we did not see a major impact on the price.
It did went down to $12 but currently its around $18 which is not bad thanks to minor pump.
I hope things get settled down here and no further dump occurs in the market. Enough of bleeding already.

Topic: Is "Solana" Will be the Next to get Killed.. (Read 297 times)