‘Hang in there’ — Crypto Twitter encourages Solana community amid FTX attack
As Solana (SOL) was heavily impacted by the FTX debacle, Crypto Twitter expressed sympathy and hope that the community can make a comeback.
As one of many coins that FTX CEO Sam Bankman-Fried (SBF) backed, SOL has been hit hard amid the FTX collapse. As of November 10, the total value locked on the Solana chain has fallen by 32.4%. The SOL token lost almost half of its value, falling from $38 on November 5 to $17 at the time of writing.
Due to the devastating things happening with Solana, crypto community members took to Twitter to offer encouragement to those in the Solana ecosystem. In a tweet, David Hoffman, the co-founder of content studio Bankless, wished the Solana community well, hoping that this will be their $80 Ether (ETH) moment. Hoffman also mentioned that there is a “strong and committed community” waiting on the other side of the devastating event.
Polygon co-founder Sandeep Nailwal urged Solana supporters to keep building. Nailwall noted that there are good people in Solana who have done nothing wrong, but who are facing the brunt of today’s situation. The Polygon co-founder also highlighted that despite our differences, “we are all brothers and sisters in the same community.”
Nicholas Chen, the co-founder of blockchain explorer Solana FM, also offered his words of support for the community. As a member of the Solana ecosystem, Chen mentioned that despite this being the third cycle in which he experienced what he describes as “death”, this one is different from the others. Although “feelings of eternal doom” may discourage many, he urged members of the community to “hang in”.
Related: FTX’s ongoing saga: Everything that has happened so far
Through the chaos that hit the community, Solana co-founder Raj Gokal offered a very positive prediction for those building their products on the platform. According to Gokal, Q1 will be their “time to shine”, where they will show the power of their community.
in the midst of this chaos…
if you’re an independent team just itching to put your head down (or already have your head down) focused on building the product on @solanaQ1 will be your time to shine.
we want to show the power of this global community of developers to push web3 forward.
— raj (@rajgokal) 10 November 2022
Meanwhile, as the FTX saga continues to cause market turmoil, the wider crypto community has also been affected, with asset prices experiencing massive falls. Despite the fear, uncertainty and doubt in the industry, many members of the community remain positive that Bitcoin (BTC) and crypto are here to stay.
