Although the collapse of FTX and Alameda Research had a negative impact on the cryptocurrency market, it is undoubtedly the most affected. wither it happened. Although the problems experienced frighten SOL investors, the latest news from the developers seems to herald big problems.
The developments resulted in investors selling their Solana assets. As a result, SOL lost its place in the CoinMarketCap rankings and fell behind SHIB.
Sam Bankman-Fried, the biggest supporter of the Solana ecosystem, has caused great damage to the ecosystem with the recent events.
Koinfinans.com As we reported, the Solana network has faced problems with frequent outages over the past two years, but the collapse of FTX has outstripped even these interruptions.
Indeed, the Solana network’s critical importance to NFTs helps it maintain its importance.
Solana’s marketplace for NFTs, Magic Eden, ranks fourth in trading volume, according to DappRadar data. As a result, Solana ranks as the most valuable NFT blockchain after Ethereum.
The developers were one of the biggest supports in the Solana network. developers altcoin It is still a mystery whether they will start to leave the network, even if they remain active from its collapse.
Has Solana Growth Hurt?
According to information from Terminal Token, active developers of Solana’s software have decreased by more than 90% in 2022.
This rate is remarkable because it means that 2,425 developers have left the smart contract platform network. It also means that the Solana network won’t be interesting even before the FTX collapse.
The platform only considers direct individual contributions to Solana’s central software repository to capture development data. Therefore, cryptocurrency The development of other software that does not belong to the foundation is not taken into account. This represents a different problem for the network.
As a matter of fact, experts who examined these data stated that the analyzes were wrong. According to SEC3, Solana is among the top developer altcoins at the beginning of November. If we look at the number of individual developers, it was noted that 25,000 developers contributed.
Although this number decreased in December, it ranks 9th in Github rankings. While this is not a good result in general, it would be incorrect to say that the network is.
On the other hand, it was noteworthy that the most developed networks were Cardano, Cosmos and Polkadot.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.