This article is the second part of a series on Solana's rise, fall, and comeback. It highlights the rapid expansion of Solana's ecosystem in 2021, with significant funding and development in DeFi projects and NFT marketplaces. However, the article also discusses Solana's dependency on Alameda Research and FTX, two companies founded by Sam Bankman-Fried (SBF), who is now incarcerated. It explains that the association with FTX became a disadvantage when reports of an $8 billion hole in its balance sheet surfaced, causing panic and a liquidity crisis. SOL's price fell, DeFi activity dried up, and projects like Serum collapsed. Despite the damage, Solana managed to rebound in the following weeks, although it faced skepticism and a prolonged period of price stagnation. The article concludes by questioning whether Solana's dedicated community can sustain its belief in the network's technology to rebuild and regain its position in the Web3 space.



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