Sandeep Nailwal, the co-founder of Polygon, encouraged Solana community members to keep on building after being affected by FTX debacle.
Crypto Twitter expressed condolences for those who were negatively impacted by the FTX fiasco and voiced optimism for the community’s recovery. Sam Bankman-Fried (SBF), the CEO of FTX, promoted numerous currencies, including SOL, which has been severely impacted by the demise of FTX.
The total value locked on the Solana chain has decreased by 32.4% as of Nov. 10. The SOL token’s value decreased by approximately 50%, from $38 on November 5 to $17 at the time of writing.
Due to the catastrophic events affecting Solana, members of the cryptocurrency community rushed to Twitter to support individuals who are a part of the ecosystem. The Solana community was wished success in a tweet by David Hoffman, the co-founder of multimedia studio Bankless, who hoped that this would be their $80 Ether ETH ($1,259) moment.
A “strong and committed community” is awaiting on the other side of the catastrophic catastrophe, according to Hoffman. Sandeep Nailwal, co-founder of Polygon, urged supporters of Solana to continue construction.
The majority of the current crisis is being experienced by nice individuals in Solana who did nothing wrong, according to Nailwal. Despite our differences, “we are all brothers and sisters of the same community,” the co-founder of Polygon emphasized.
Co-founder of blockchain explorer Solana FM Nicholas Chen also expressed his support for the neighborhood. As a part of the Solana ecosystem, Chen said that even though this is the third cycle in which he has gone through what he calls “death,” this one is distinct from the others. Even if “emotions of endless dread” would deter some people, he urged the locals to “hang in there”.
In the midst of the commotion that engulfed the community, Raj Gokal, co-founder of Solana, made a very optimistic forecast for individuals creating their goods on the platform. Gokal claims that Q1 will be their “time to shine,” during which they will demonstrate the strength of their community.
As the FTX saga continues to disrupt the market, it has also had an impact on the larger crypto community, with asset prices falling sharply. Many people in the community continue to believe that Bitcoin (BTC) and cryptocurrencies are here to stay, despite the anxiety, uncertainty, and skepticism that exist within the sector.