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Solana Price Drops 40% Amidst FTX-Alameda Crisis

Author: Delma Wilson

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Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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As many speculated, the FTX and Alameda case did turn out to be a Terra LUNA like incident as the firm collapsed. This has affected the overall crypto market and one altcoin that saw an immense pull down is Solana (SOL).

In the last 24hrs Solana has lost more than 40% trading at $17.13 level. The Alameda crisis began in the last seven days and since then SOL has lost nearly 50%. The reason for this is SBF bought $1.2 billion worth of SOL tokens through Alameda. On the other hand, Alameda has been dumping its SOL holdings to purchase FTT to increase FTX token price.

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