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Solana's native token fell more than 30 % in a few hours


SOL , has recently dropped more than 30 percent due to speculation surrounds the FTX issue of Sam Bankman-Fried and his company, Alameda Research. According to a copy of Alameda's financial statements, Alameda holds $292 million in "unlocked SOL," $863 million in "locked SOL," and $41 million in "SOL collateral." Solana whales are going into liquidation as their SOL positions are being hammered by falling prices. On Nov. 9, Wu Blockchain showed that a whale with 2.4 million SOLs worth just over $51 million was hit by the margin call on a $44.8 million USDC worth of debt. The liquidation threshold for that particular address was $43 million. To make matters worse, Solana's blockchain once again appears to be suffering from performance issues. On its platform dashboard it appears to say, "The Solana network is currently experiencing degraded performance." The situation certainly does not appear to be one of the best for this blockchain.


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