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Will the layer-1 protocol rise again in 2023? By Cointelegraph


About two months after the FTX collapse, the network is stronger than ever, according to Austin Federa, head of strategy and communications at the Solana Foundation.

Federa defines the recent SOL token price crash as a short-term market reaction to the perceived connection between Solana and the defunct crypto exchange FTX. While FTX founder Sam Bankman-Fried was invested in many Solana-based projects, Federa pointed out he didn’t have any influence on the network’s operations and fundamentals.

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