Even while the FTX platform appears to be in decline due to some contagious virus originating from a centralized derivatives exchange, some of Solana’s supporters have managed to block the flow and spread to some level. It is now established that this virus is extremely damaging, as its primary goal and intent is to connect its name to sports-related arenas instead of the DeFi. Despite this, user confidence in the FTX, which is a huge crypto-based offshoot exchange, has suffered a significant fall.
Alameda Research, FTX’s sister company, is also depicted in the same image frame. This has unintentionally impacted Solana to the point where token holders are under attack from all sides by a mysterious rotating force.
This uncertain predicament began, incidentally, somewhere in July of 2020, when FTX chose Solana to serve as the blockchain framework for a decentralized exchange project named Serum. To be more specific, the problem lies solely in the connections mentioned above.
As a result, investors are particularly apprehensive about its impact on Binance’s plans to carry out a crisis-based takeover of the FTX to facilitate and plug its dwindling liquidity and improve the situation. Experts in cryptography believe that with all of these countermeasures being put into place, Solana will somehow emerge from this whole ordeal undamaged.