Like the crypto market and many other institutions, Solana (SOL) was hit hard by the crisis that occurred in FTX. Thereupon, the Crypto Twitter community expressed its sympathy and support for Solana.
Solana, one of the many cryptocurrencies supported by FTX CEO Sam Bankman-Fried (SBF), was hit hard by the collapse that occurred in FTX. The total value locked onto the Solana chain on November 10 fell 32.4 percent. SOL price has lost almost half its value. SOL price retraced from $38 to $17 levels on November 5th.
The crypto community rushed to Twitter to encourage those in the Solana ecosystem after the many devastations that occurred in Solana. David Hoffman, co-founder of content studio Bankless, wished luck to the Solana community in a Twitter post he shared. Hoffman also mentioned that there is a strong and determined community waiting on the other side of the devastating event that has occurred.
Sandeep Nailwal, co-founder of Polygon, encouraged Solana supporters to continue on the path they set out. Nailwal noted that there are good people in Solana who have done nothing wrong so far, but are faced with the brutality of the current situation. “We are all brothers in this community,” said the Polygon co-founder, despite the challenges.
Nicholas Chen, co-founder of blockchain explorer Solana FM, also made several encouraging statements to the Solana community. Chen, a member of the Solana ecosystem, noted that although this is the third cycle in which he experiences what he describes as “death,” this one is different from the others. Chen encouraged the community members to stay afloat, as the collapses that occurred discouraged many.
As the FTX crisis devastated the entire crypto market, Solana co-founder Raj Gokal gave positive predictions to those building their products on the platform. According to Gokal, he stated that the first quarter will be the time when their communities will show their strength.
amidst this chaos…
if you’re an independent team just itching to put your head down (or already with your head down) focusing on building product on @solanaQ1 will be your time to shine.
we will show the power this global community of developers has to push web3 forward.
— raj (@rajgokal) November 10, 2022
However, as the FTX crisis continues to cause turmoil in the crypto market, not only the Solana community, but also the wider community continues to be affected and crypto prices continue to fall. As fear, uncertainty and doubt (FUD) continue to dominate the market, many in the community have a positive attitude that Bitcoin (BTC) and cryptos will continue to exist in this industry.