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Solana co-founder Anatoly Yakovenko reflects on the fallout of FTX's failure and its initial impact on Solana ecosystem builders. The now-infamous collapse of FTX sent shockwaves through the broader cryptocurrency space in 2022, but the Solana ecosystem was particularly hard hit in the fallout.  Speaking exclusively to Cointelegraph at the latest edition of the Solana Breakpoint conference hosted in Amsterdam, Solana co-founder and CEO Anatoly Yakovenko recalls his concern for several projects that were building on the layer 1 smart contract blockchain protocol. “I was more worried about the ecosystem of start ups; we didn’t know how exposed teams were,” Yakovenko explains. Solana’s native token SOL saw a significant drop in value in the immediate wake of FTX’s bankruptcy, with its token trading at $36 in early Nov. 2022 before dropping as low as $12 in the days after the exchange’s collapse . Related: Sam Bankman-Fried found guilty on all 7 charges in FTX fraud trial Solana’s ...

Bitcoin and most altcoins gave back the entirety of their gains shortly after the SEC decided to delay issuing a decision on all of the recently filed spot Bitcoin ETF applications. Bitcoin’s (BTC) volatility has increased over the past few days. The price soared on Aug. 29 after Grayscale scored a victory over the United States Securities and Exchange Commission (SEC). However, the euphoria was short-lived as the price gave back all the recent gains on the news that the SEC delayed the decision on all seven spot Bitcoin exchange-traded fund applications.  News related to Bitcoin ETFs has been the major trigger for the markets in the past few days. Bloomberg ETF analysts remain upbeat over the possibility of the ETFs being approved by the regulator in 2023. In an Aug. 30 post of X (formerly Twitter), Bloomberg senior ETF analyst Eric Balchunas bumped up the approval possibility of a spot Bitcoin ETF from 65% to 75%. Daily cryptocurrency market performance. Source: Coin360 In the near ...

Bitcoin has risen above $25,000 and if bulls flip this level into support during the next pullback, it will signal the start of a new up-move to $32,000. After a recovery on March 16, the United States equities markets are again down on March 17. Investors remain concerned about the vulnerability of the banks in the U.S. and Europe. A silver lining for cryptocurrency investors is that Bitcoin (BTC) has remained decoupled with the equities markets and has risen to its highest level since Jan. 12. Galaxy Digital founder and CEO Michael Novogratz said in an interview with CNBC that the US and the globe will face a credit crunch as banks lend less to rebuild capital. He said investors should be long on Bitcoin and crypto because these are the times for which it was created. Daily cryptocurrency market performance. Source: Coin360 Quantitative tightening seems to be giving way to a period of quantitative easing. The banks have already borrowed $150 billion from the Federal Reserve, which i...

Aptos’ star-studded founders and the market’s disbelief in the rally could further fuel the rise in APT price. Aptos (APT) reached a new all-time high of $20.39 after posting gains exceeding 400% since the start of 2023. While the rally could just be a pump-and-dump event due to the perception of weak fundamentals, increasing negative sentiment toward the token will likely fuel the prices in the short term. Let’s explore some of the factors that could be propelling the Aptos price rally. A rich history and strong investor backing Aptos is a byproduct of Facebook’s attempt with the Libra blockchain, which regulators forcibly shut down. Two of Libra’s leadership team members, Mo Shaikh and Avery Ching, later found Aptos, a decentralized version of the abandoned blockchain project. The Move programming language-based project introduces a new class of Layer-1 blockchains that will compete against the likes of Solana and Cardano. Investors’ hope for a technological breakthrough, Aptos that...

Traders are piling into BONK, boosting its price by triple-digits in the last 24-hours and possibly hinting at a trend reversal in Solana price. Bonk, a meme token modeled after Shiba Inu (SHIB) that launched on Dec. 25, 2022, and some traders believe the token’s trading volume is potentially driving Solana (SOL) price up. Over the past 48-hours, SOL price has gained to 34% and Bonk is up 117% in the past 24-hours according to data from CoinMarketCap. While the wider crypto market remains suppressed, traders are hoping that Bonk could present new opportunities during the downturn.  According to the project’s website, Bonk is the first dog token on the Solana blockchain. Initially, 50% of the token supply was airdropped to Solana users with a mission to remove toxic Alameda-styled token economics. The airdrop resulted in more than $20 million in trading volume according to the Solana decentralized exchange, Orca. High yield returns Liquidity providers (LPs) stand to benefit from intera...