Ethereum

Solana

<div class="cryptonews">
 <p class="is-style-lead">Following FTX’s collapse, Nansen on-chain data shows that SOL has outperformed ETH, emerging as the preferred investment choice.&nbsp;</p>
 <p>At the same time, Kaiko, an alternative source of cryptocurrency market data, reports that Solana is still suffering the effects of the exchange’s bankruptcy.</p>
 <h2 class="wp-block-heading" id="looking-forward">Looking forward</h2>
 <p>According to&nbsp;recent findings&nbsp;from Nansen, Solana’s Total Value Locked has nearly doubled since the beginning of the year, reaching a substantial 30.95 million SOL, as the Solana vs. Ethereum ratio has since been reported to be approaching year-long highs.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Since the collapse of FTX, SOL has declined more than ETH, meaning ETH has been the better coin to hold…<br><br>But since summer, SOL has been trending positively, with the SOL vs ETH ratio breaking higher, nearing highs not seen all year<br><br>Will this <a rel="noopener noreferrer nofollow" title="momentum" href="https://thebittimes.com/tag/momentum.html">momentum</a> continue? pic.twitter.com/aDhh0wY92q</p>— Nansen (@nansen_ai) October 19, 2023
   </blockquote>
  </div>
 </figure>
 <p>Despite facing previous setbacks, including network interruptions and the FTX incident, Solana has maintained a 100 percent uptime year-to-date, underscoring its enhancements and resilience.&nbsp;</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Why Solana is a bad deal: trader explains
 </div>
 <p>Solana has since implemented solutions such as state compression and isolated fee markets to address significant issues within its technology stack, with state compression dramatically reducing the cost of NFT minting on Solana by over 2,000 times.</p>
 <h2 class="wp-block-heading" id="still-bearing-the-effects-of-ftx">Still bearing the effects of FTX</h2>
 <p>At the same time, in an Oct. 20 post on X from Kaiko, the data provider is quick to point out that Solana ecosystem tokens have continued to suffer since the FTX collapse.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">#Solana ecosystem tokens have suffered since the #FTX collapse.<br><br>SRM, MAPS, FIDA, and OXY were all held by the exchange/Alameda, and liquidity has either crashed or remains extremely low. pic.twitter.com/9JQ8FwDPKU</p>— Kaiko (@KaikoData) October 20, 2023
   </blockquote>
  </div>
 </figure>
 <p>The post cites that SRM, MAPS, FIDA and OXY were all held by the exchange and, as a result, continue to face low liquidity.</p>
 <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
  <div class="wp-block-embed__wrapper">
   <div class="rll-youtube-player" data-src="https://www.youtube.com/embed/AbgRB3arCpY" data-id="AbgRB3arCpY" data-query="feature=oembed"></div>
   <noscript><iframe title="The FTX Collapse, Explained | WSJ What Went Wrong" width="1020" height="574" src="https://www.youtube.com/embed/AbgRB3arCpY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
   </noscript>
  </div>
 </figure>
 <p>For the market, contrary views on the token make it difficult to determine if the token really is a good investment at this time.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Lido announces phased shutdown of Solana operations
 </div>
 <p></p> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-gaining-momentum-according-to-nansen-report-tbt67162.html">https://thebittimes.com/solana-gaining-momentum-according-to-nansen-report-tbt67162.html</a></p>

Solana gaining momentum according to Nansen report

Table of Contents

TheBitTimes

Other articles published on Oct 20, 2023

Nio Inc. – ADR: Elon Must be Affecting NIO Stock Price, NIO Down

What Will Happen in the Ripple Case? SEC Drops Charges but Fight Continues

Massive Russian telecom company MTS has announced a new marketing service aimed at Telegram users.

SEC drops lawsuit against Ripple and its execs

OMMNIVERSE Unleashes New Features in NFT/ FNFT Marketplace as OMMI Token Joins MEXC Exchange

Shiba Inu: When Will SHIB Hit $0.50?

Join our free newsletter for daily crypto updates!