The rise, fall, and comeback of $SOL
Nov 2021: SOL hits about $260. Solana is a top chain for NFTs and DeFi.
Nov 2022: FTX collapses. FTX and Alameda held tens of millions of SOL, and the market treats SOL like an FTX proxy. Price falls from near $260 to around $8 — roughly a 97% wipeout. The chain keeps producing blocks.
2023–2024: The FTX estate sells locked SOL at steep discounts. Builders stay. Memecoins, DEXes, and payments rebuild demand that barely existed in 2021.
Jan 2025: SOL prints a new all-time high near $295 — above the old peak — while estate distribution is still unfinished.
Nov 2026: Price sits near $89 on Binance after the broader dump. Breakpoint opens in London in about 10 days (Nov 15–17).
Lesson: a chain can survive a sponsor's collapse if real usage shows up. Price recovery without usage is just a bounce.
$SOL #CryptoHistory #Solana #CryptoLessons
NFA / Not financial advice
Nov 2021: SOL hits about $260. Solana is a top chain for NFTs and DeFi.
Nov 2022: FTX collapses. FTX and Alameda held tens of millions of SOL, and the market treats SOL like an FTX proxy. Price falls from near $260 to around $8 — roughly a 97% wipeout. The chain keeps producing blocks.
2023–2024: The FTX estate sells locked SOL at steep discounts. Builders stay. Memecoins, DEXes, and payments rebuild demand that barely existed in 2021.
Jan 2025: SOL prints a new all-time high near $295 — above the old peak — while estate distribution is still unfinished.
Nov 2026: Price sits near $89 on Binance after the broader dump. Breakpoint opens in London in about 10 days (Nov 15–17).
Lesson: a chain can survive a sponsor's collapse if real usage shows up. Price recovery without usage is just a bounce.
$SOL #CryptoHistory #Solana #CryptoLessons
NFA / Not financial advice
