I do not intend to sprinkle more fear into Solana right now, especially as I am also a holder of it, but the rise and fall of Solana is truly one for the history books. Back in 2021 SOL was seen as the next big thing and was even realistically seen as an “ETH killer“. SOL even had a parabolic rise right in the middle of BTC collapsing due to China FUD in May 2021.
But once the bear market came, just like everyone else Solane also had to collapse and that from a price of $250 to now just $18, truly a massive price crash, but this is not the only thing that went down:
Solane TVL chart from DefiLlama
TVL, Total Value Locked, shows the total value of all the assets that are on a network. It is often used as a metric to gauge the legitimacy of a Crypto. Here we can see an even worse collapse, from over $10B to now just $250M and we obviously can not forget the upcoming FTX liquidations that will likely happen over the years.
So yeah, I don't want to provoke people to sell all their SOL, but as much as we joke about it, in Crypto anything is possible we have already seen the craziest comebacks with BTC itself. So stay resilient and make sure to keep an eye out for latest news.