Cryptocurrency exchange FTXafter the bankruptcy of Bitcoin (BTC) like altcoinalso experienced sharp declines.
One of them is undoubtedly Ethereum (ETH) rival Left (LEFT) it happened.
that everyone thought would disappear witheralmost reborn from the ashes and experienced an increase of approximately 100% in the rally in 2023.
Because at the beginning of January 2023, it was traded for less than $ 10. LEFTIt is currently at $23 levels.
According to the news of Coindesk, examining the developments in Solana coinbaseHe said that the Solana network is not immune to the rigors of the crypto winter in 2022.
The report also noted the Solana network’s historical affiliation with the bankrupt crypto exchange FTX, in terms of market sentiment for FTX’s bankruptcy. wither It is stated that it still has an extreme impact on the blockchain.
Coinbase analyst Brian Cubellis wrote about Solana:
“While FTX’s bankruptcy still has a huge impact on Solana, it still remains technically the Solana protocol exists as a core value.
As a blockchain optimized for high throughput, minimal cost, and native scalability, Solana represents a legitimately differentiated approach across tier 1 projects.”
The analyst said that despite all the negative events, Solana is in a good position to re-emerge itself as a true tier 1 competitor, given Solana’s relative strength in terms of transactions, users, and development-related network activity.
*Not investment advice.
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