Why Solana Was Decimated by Bankman-Fried’s Downfall

The consequences of growing Solana skepticism have been dire, based purely on numbers. From a peak price of $258.78 on Nov. 6,2021, Solana’s SOL token has declined to just over $10 today, Dec. 28. That’s a drop of -96.1%, vastly sharper than the drawdowns from peak for BTC (-74.5%) and ETH (-74.6%). It’s even a sharper drop, incredibly, than dogecoin has seen in the bear market – the memecoin is down a mere 76% since its October 2021 peak.

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