Prominent altcoin analysts say that one of the biggest names in the market is in danger after the FTX crisis.
“40% will collapse amid FTX bankruptcy”
Guy, an analyst for the YouTube channel Coin Bureau, warns in the latest video that Solana, an altcoin linked to FTX, will fall further. The analyst says Solana’s reputation has been tarnished by the bankruptcy of the central exchange. According to Guy, Solana will come under serious selling pressure once the beleaguered crypto exchange and its sister company Alameda Research begins selling it to reimburse affected users and creditors.
The analyst says Solana will likely fall further, aided by the fact that the market hasn’t bottomed out yet. Based on technical analysis, he predicts Solana to drop around 40% from current levels:
Worse still, the bottom of the crypto bear market has probably not started yet. This means that SOL will fall further even without all the selling pressure from these altcoins. The long-term price chart shows the SOL could drop to $8. This will be consistent with the estimated percentage of losses on other major altcoins.
Renowned economist says it’s the right time to buy Solana amid altcoin bear market
Raoul Pal, a former Goldman Sachs executive, said why, despite all the disaster and pessimism surrounding the Solana ecosystem in the wake of FTX’s collapse, this is a great time to buy SOL. Earlier this week, Pal had this to say about Solana:
I really like Solana and I understand that the net is broken. I understand they fixed it. I also understand that this is a no-no. One of the downfall elements was the concentration of ownership due to FTX. Now they can liquidate so you get rid of one of the problems.
Meanwhile, Pal had this to say about Solana at an AMA on Oct.
I love Solana. I see you keep interrupting. So, if it survives the crash and is one of the largest crypto protocols and has more activity than any other Blockchain except Ethereum, then the probability of Solana to join the next cycle is very high to me. .. So I love Solana, this is one for me.
How endangered is Solan?
One of the main cryptocurrencies affected by the FTX crisis was Solana. Factors like Serum and Sollet played a major role in Solana’s impact from the FTX collapse.
Solana’s locked total (TVL) fell 30% after FTX went bankrupt. One reason for the FUD around Solana was the Solana-based Serum. On the other hand, the floor price of Solana NFTs has witnessed a significant increase over the past few weeks. As a result, people from the crypto community are still showing interest in the large Solana NFTs. cryptocoin.comAs you follow, Solana price is trying to hold on to the $13 zone in the last days as the crisis has cooled.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your own research and due diligence before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.