Solana Leads Crypto Slump With FTX’s Serum Project In Distress
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A four-day slump for crypto altcoin Solana deepened, while developers spun off one of the blockchain network’s most prominent and FTX-affiliated projects.
A four-day slump for crypto altcoin Solana deepened, while developers spun off one of the blockchain network's most prominent and FTX-affiliated projects. Solana fell as much as 11% to $12.11 on Monday in Asia's morning. Crypto bellwethers Bitcoin and Ether also slumped, with Bitcoin at one point dropping below $16,000. Other altcoins, including Polkadot and Avalanche, typically more volatile than larger cryptocurrencies due to lower liquidity levels, fell as well. The crypto market has lost about $200 billion in value in the past week itself, as the collapse of FTX CEO Sam Bankman-Fried's crypto empire took its toll on inve...