- BitBoy crypto influencer spreads FUD statements in regards to the Solana Blockchain.
- Armstrong stated, ‘Solana is useless’ no different method to save the community.
- Nevertheless, SOL gained 15% in seven days, with a 3.32% improve in its market cap.
Crypto influencer Ben Armstrong, the founding father of BitBoy Crypto, is spreading FUD statements in regards to the Solana Blockchain. Early in the present day on Twitter, Armstrong asserted that Solana was useless and that there could also be no different method to save the community.
Nevertheless, in response to the influencer, the NFT group will be the final stand giving upcoming product launches.
In one other Twitter thread, Armstrong claimed that ‘each time the Solana blockchain paused, it was Alameda Analysis laundering cash and brute forcing transactions.’ He concluded that crypto fanatics holding on to the Solana native token SOL ought to tackle their hills and dump the coin.
Opposite to Armstrong’s claims, the Solana coin seems to be in a optimistic mild, given its present worth motion, in response to information from the market monitoring web site CoinMarketCap. The token gained a cumulative 15% improve in a seven-day window with a 3.32% improve in its whole market cap.
Regardless of its 24-hour buying and selling quantity taking place by over 25%, the coin gained 3% towards Bitcoin (BTC) and Ethereum (ETH). Among the many high 20 cryptocurrencies by market cap, the SOL coin was the third-best performer beneath a seven-day window after Binance Coin (BNB) and Litecoin (LTC).
Notably, the collapse of the FTX change contributed considerably to the decreased worth of SOL. Just a few years in the past, Solana raised about $300 million in a personal Preliminary Coin Providing (ICO) from a number of non-public funding firms, together with Alameda Analysis. In return for collaborating within the fundraising spherical, Alameda earned a stake in a phase of SOL.
Nevertheless, crypto analysts have argued that Alameda Analysis bought a major chunk of its SOL holding to stabilize the falling FTX token.
