I wasn’t even planning to jot down 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 details and separate concern from actuality.
Solana was holding robust towards Bitcoin — till it hit a serious help degree and broke. If it doesn’t bounce again rapidly, 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 growth was simply getting began.Right now, Solana is without doubt one of the busiest networks, with tens of millions 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.
Try my article on how Argentina’s crypto scandal performed a serious function: https://wire.insiderfinance.io/argentinas-crypto-scandal-here-s-what-i-discovered-e010a003fb74
It’s not Solana’s know-how that’s the problem — it’s what folks have been constructing on it.
Meme cash began out enjoyable, however insiders took…
