• Sam Bankman-Fried’s arrest has left the Solana price flat in the past 24 hours, with the altcoin down 14% in the last week and 67% since the collapse of FTX.
• Despite the collapse of FTX, Solana development activity has been fairly stable and its network health remains intact.
• Presales have had a good year in 2022, with altcoins such as TAMA, LBLOCK, and IBAT rising as high as 1,800%, 6,000%, and 3,000%, respectively. Three of the newest presales to watch are FightOut (FGHT), Dash 2 Trade (D2T), and C+Charge (CCHG).
The news of former FTX CEO Sam Bankman-Fried entering FBI custody and being extradited to the United States has had a major impact on the Solana price. The altcoin has remained flat in the past 24 hours, trading at $12.09, a 14% decline from a week ago and a 67% drop since the collapse of FTX in November. This is due to the exchange having held significant importance for Solana, with its parent company, Alameda Research, having been a major investor in the Solana Labs developer. Solana’s DeFi ecosystem was also hit hard by the bankruptcy of FTX, with the Solana Foundation having around $200 million in cryptocurrencies on the exchange when it collapsed.
Despite the news, development activity on Solana has remained fairly stable, as shown by a recent analysis by Messari. Key metrics like validator distribution and Nakamoto coefficient have been resilient, while developers have continued to deploy and DeFi projects have continued to build on the Solana blockchain, despite the hit to total value locked in and the price of SOL. The platform has also seen NFT activity increasing, with more power users emerging.
As such, there is hope that Solana can recover in the long term, although it may take some time. In the meantime, those looking for quicker gains may want to look to presales, which have had a good year in 2022. Tamadoge (TAMA) rose by as much as 1,800% after listing on OKX in October, while Lucky Block (LBLOCK) and Battle Infinity (IBAT) witnessed increases as high as 6,000% and 3000% this year compared to initial presale prices.
Three of the newest presales to watch are FightOut (FGHT), Dash 2 Trade (D2T), and C+Charge (CCHG). FightOut is an Ethereum-based platform that will reward users for engaging in a variety of workouts, while Dash 2 Trade is a trading intelligence platform that will provide real-time analytics and social trading data. C+Charge is a peer-to-peer payment system for electric vehicle charging stations. All three of these projects have already seen significant success in their presale phases and could offer substantial gains when they list in the New Year.