Solana TVL drops 32.4% as FTX turmoil rocks ecosystem
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The total value locked (TVL) on the Solana chain has plummeted 32.4% in the last 24 hours, as news stemming from the collapse of FTX has sent waves through the crypto ecosystem.
Despite the recent challenges facing SOL, co-founder of Solana Labs Anatoly Yakovenko has reiterated his bullish stance on the network despite recent losses.
He pointed to the quality of builders and recent network-level improvements as big positives in a Nov. 9 tweet.
1/ I said this on stage at Breakpoint just a few days ago – the builders on Solana are second to none, and the projects they’re building can often only be built on Solana.
— toly (@aeyakovenko) November 9, 2022
Throughout Solana’s annual conference, a range of announcements were made including a partnership with Google Cloud, the launch of the Solana App Store, and an upcoming smartphone.
