But Hidden Coins Revealed!

Popular altcoin Solana rose 33%, beating Cardano and Tether; however, a “cover-up” of around 12 million SOL tokens seems to be haunting the project. Solana continued to rise in the charts and after a 33 percent weekly gain, it has now moved up to fourth place, beating Cardano and Tether. Even as it was rising, Solana’s dark games in which he hid 11 million SOL tokens and then lied about burning resurfaced, which scared some investors. Details cryptocoin.com‘in.

The altcoin that shines this year: Solana

Solana was the cryptocurrency to watch last year. The project is now trading for over $250, earning over 16,000 percent this year. But this was not just a price increase for Solana – the project has become a formidable blockchain network and a true Ethereum competitor. It now has the fourth-highest NFT sales, four times higher than Polygon. Traders are already looking at $400 as the SOL charts continue to rise. It was one of the top performers with 33.3 percent last week. Starting the year at just $1.6, the company has earned nearly 16,000 percent to date.

SOL currently has a market capitalization of $75.7 billion, which is equal to auto giant Ford and Japanese giant Mitsubishi. Solana’s rise is based on being able to do (at least for now) what pioneer altcoin Ethereum could not. It relies on proof-of-stake and proof-of-history consensus mechanisms that have made it an extremely fast blockchain, supporting smart contracts at very low fees, and allowing massive scaling for dApps. NFTs are where Solana has made the most progress. According to CryptoSlam, NFT sales on Solana are currently worth $574 million with 91,000 buyers. Only the market-leading Ethereum, Ronin and Flow blockchains saw higher sales. Solana has sales five times higher than Polygon and 100 times higher than Binance Smart Chain.

Revealed Solana tokens

As Solana rises, some of her team’s dark activities return to haunt the project. Justin Bons, founder of Cyber ​​Capital, a VC firm that invests in cryptocurrency projects, was on Twitter to talk about one of Solana’s biggest reputation blemishes.

The 2020 scandal involved Solana admitting to hiding 11.3 million SOLs from the community and giving it to a market maker. When founder Anatoly Yakovenko showed up and opened up, his intentions were naive. All he wanted to do was to ensure that there was sufficient liquidity for the SOL market and that “buy and sell orders are always met, regardless of macro conditions, seasonality or daily fluctuations in trading volume”. “The problem: We didn’t make this information public, the size and nature of the loan,” he admitted. It continues: “We are very sorry for any confusion this may cause. “We are deeply saddened to see the dissonance and distraction this neglect has caused in our community of more than 150,000 members worldwide.”

Anatoly promised that the Solana Foundation would repurchase 11.3 million SOL tokens and burn them within a month. But it didn’t. It just recalled about 3.3 million tokens and the rest were released. In essence, Solana’s great success today was built on these lies and cover-ups. This seems to have had little effect on the success of the project and continues to set new heights. According to a prominent analyst, this may be due to its alleged partnership with Tether, which has been accused of manipulating projects at will.

Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!