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In its prime, FTX exchange was a major supporter of Solana. Through Alameda Research’s investment, the trading platform received a humongous allocation of SOL, making it one of the largest holders of the coin. When FTX went bankrupt, Solana was pressured by the firm’s exposure. This contributed to the massive slump in SOL's price post-FTX implosion. While the coin’s price and business have FTX is in the latter stages of its bankruptcy. The firm is notably consolidating funds to repay its creditors. Based on this, it is highly probable that the firm will redeem all the $954 million in staked SOL in the coming months.to chart a path toward a fresh start.
As of writing time, Solana was changing hands for $134.91, up by 2.36% in 24 hours. With a 9.6% boost in trading volume to $2,018,446,819, it becomes evident that the FTX redemption did not spark Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments.