SOL, the native token of the Solana blockchain, fell below $10 on Wednesday for the first time since February 2021, losing 10% on the day and bringing its losses since the brutal collapse of the apparently corrupt crypto-empire to around 70%. Sam Bankman Fried, FTX/Alameda, the beginning of November. The price forecasts are therefore still very pessimistic.
The reasons for the collapse of SOL
SOL’s unprecedented decline can be attributed to a continued stream of damaging stories about the Solana ecosystem, as well as the ongoing FTX saga. Two of Solana’s leading non-fungible token (NFT) projects, The Gods and y00tsrecently announced that they are ditching the blockchain to build on Ethereum and Polygon.
Meanwhile, observers have noted that Alameda’s wallets have become active again, just days after Sam Bankman-Fried was released on bail. The person or persons behind these money movements were getting rid of ERC-20 tokens and most of the tokens are being converted into well-established, premium cryptocurrencies such as ETH, BTC and USDT. Destination addresses for some funds have been hidden.
Twitter users have speculated that Sam Bankman-Fried is behind these trades, and traders believe he may also be dumping SOL tokens. Sam Bankman Fried was one of the biggest promoters of the Solana blockchain and some believe that he artificially drove up the price of SOL.
Price Prediction – Can SOL Reach $3?
SOL/USD’s recent dive below the recent $11 lows and below the $10 psychological level has opened the door for another sell-off that could see the cryptocurrency test key long-term support around $5.20 (which was the August 2020 highs) ). If the token falls below this level, it could open the door for a further decline towards the $2.50 equilibrium zone.
Altcoins to Consider
With the crypto markets as a whole performing poorly in recent weeks, investors may be looking to diversify their holdings with pre-sale tokens from crypto projects that are currently in the early stages.
FightOut (FGHT): launch of the pre-sale
FightOut, a new move-to-earn (M2E) fitness app and fitness chain looking to bring the fitness lifestyle to the web3, has just launched its pre-sale, and investors believe the project could transform the existing web3 M2E landscape. While existing M2E apps, such as STEPN, require the purchase of expensive non-fungible tokens (NFTs), FightOut takes a more comprehensive approach to tracking and rewarding its users for their training and activity and requires no purchase.
FightOut FGHT tokens are currently selling at 60.06 for 1 USDT and interested investors are encouraged to act quickly to purchase tokens as the pre-sale has already raised nearly $2.6 million in just a few days. FGHT is the token that will power the FightOut crypto ecosystem.
Dash 2 Trade (D2T): The pre-sale enters its final phase
Those looking to invest in a promising crypto trading platform startup should consider Dash 2 Trade. This social analytics and trading platform can become a benchmark in the crypto trading space thanks to its many unique features.
These include trading signals, social and on-chain sentiment indicators, pre-sale token rating system, token quote alert system and strategy back-testing tool. The Dash 2 Trade ecosystem will be powered by the D2T token, which users must purchase and hold to access platform functionality.
Dash 2 Trade is currently conducting a token presale at deeply discounted prices, and the sale recently topped $11.2 million. The pre-sale dashboard will be released soon, with the development team currently ahead of schedule. The tokens are currently selling at $0.0533 each and will be listed on multiple centralized exchanges in less than a month.
Calvaria (RIA): final pre-sale phase underway
Major blockchain-based games like Axie Infinity have lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative titles. Calvaria, a battle card game might be one of them. Calvaria seeks to drive crypto adoption by bridging the real world and crypto through fun and accessible gameplay.
Calvaria has now raised $2.6 million, and a crypto whale collected $97,500 worth of tokens in a single purchase earlier this month. The presale is in its final stages, with only 20% of tokens remaining.
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