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Following the FTX collapse, Nansen on-chain data shows that SOL has outperformed eth, emerging as the preferred investment option.
At the same time, Kaiko, an alternative cryptocurrency market data source, reports that Solana is still suffering the effects of the exchange’s bankruptcy.
Thinking in the future
According ai/articles/solana-past-present-and-future” target=”_blank” rel=”noreferrer noopener”>recent findings According to Nansen, Solana’s total value locked has almost doubled since the beginning of the year, reaching a substantial 30.95 million SOL, as the ratio between Solana and ethereum has since been reported to be approaching one-year highs. .
Despite facing previous setbacks, including network outages and the FTX incident, Solana has maintained 100 percent activity so far this year, underscoring its improvements and resilience.
Solana has since implemented solutions such as state compression and isolated fee markets to address important issues within its technology stack, and state compression dramatically reduces the cost of minting NFTs on Solana by over 2,000 times.
Still enduring the effects of FTX
At the same time, in an October 20 post on Kaiko’s X, the data provider is quick to point out that Solana ecosystem tokens have continued to suffer since the FTX collapse.
The publication cites that SRM, MAPS, FIDA, and OXY were held by the exchange and continue to face low liquidity as a result.
For the market, the contrary opinions on the token make it difficult to determine if the token is actually a good investment at the moment.
