Despite Solana's Fall During the FTX Collapse, the Community Is Maintaining Hope.
The rapid collapse of FTX has hurt the crypto community significantly, but not nearly as much as the Solana community. The price of Solana's token (SOL) has decreased by just over 63% since November 6th, trailing only FTX's native token, FTT, which has reduced by more than 93%.
According to On-Chain Metrics, the Cryptocurrency Bear Market May Be Ending Soon
According to IntoTheBlock, a cryptocurrency analytics firm, certain on-chain metrics suggest the crypto market may be nearing the bottom of the bear market.
Despite the volatility of the cryptocurrency market, OKB Token records higher gains.
OKB, the OKX Exchange's native token, has seen significant gains in a bearish crypto market. The utility token's price increased by 4.63% on the day, reaching a high of $20.80. Along with other market leaders like Toncoin and Trust Wallet Token, it also increased by over 11% on its weekly chart.
Grayscale refuses to disclose proof of reserves due to “security concerns.”
Since FTX filed for bankruptcy, they have pressured cryptocurrency companies to disclose details about their reserves.
Following Liz Truss's departure, the value of bitcoin dropped.
Bitcoin has failed to capitalize on the economic and financial uncertainty in the United Kingdom, falling even further in October despite this being a historically bullish time for the leading digital currency by market capitalization.
According to FTX's new CEO, most of its subsidiaries are Solvent.
The majority of FTX's regulated or licensed subsidiaries, both inside and outside the US, have solvent balance sheets, according to the CEO of FTX.
Unchained Capital, a Bitcoin lender, and custodian has announced plans to reduce employment.
Joe Kelly, CEO of Unchained Capital, has stated that some hires made during the previous bull market cannot be maintained during the current bear market. They will let about fifteen percent of the workforce go.
Bitcoin Purchase by Pantera Worth $140 Million
This is the first significant investment by an institutional investor since the crisis, suggesting that markets may be turning a corner.
19 Nov 2022
Cardano (ADA) commercial division has announced its intention to release a stablecoin pegged to the US dollar using fiat currency.
The company claims the crypto asset is backed 1:1 and complies with all applicable regulations, noting that the product bridges the gap between conventional banking and decentralized currency markets (DeFi).
19 Nov 2022
Could Solana be the Next Cryptocurrency to Meet Its Demise?
Though Solana, dubbed “the great Ethereum killer,” was developed to revolutionize the world of decentralized finance, its greatest success to date on the blockchain has come in the world of non-fungible tokens.
19 Nov 2022
Crypto-Friendly New York City Mayor Eric Adams strongly advocates digital assets despite the recent FTX collapse.
It would appear that New York City Mayor Eric Adams' perspective on cryptocurrencies has not been altered because of the recent failure of the FTX exchange.
18 Nov 2022
Bitcoin Miner Hash Price Has Been Declining Recently
According to the numbers, the cost of mining Bitcoin has dropped to a record low of $58.3k per Exahash daily.
