in early June, it labeled several altcoins, including SOL, as securities. Buterin rued the manner in which the regulator is targeting projects like Solana.and other projects are getting hit in this way. They don’t deserve it, and if ethereum ends up “winning” through all other blockchains getting kicked off exchanges, that’s not an honorable way to win, and in the long term…Heading into 2023, SOL was hovering around the $10 support zone.
And yet, it is possible to obtain some guesses from the chatbot on what the future might hold if we provide it with details about recent price movements. A lot has changed since then, and the SEC has charged Mr. Bankman-Fried with defrauding the equity investors of FTX, further alleging that he commingled FTX customer funds with Alameda’s to make undisclosed venture investments. He faces over 100 years in jail if convicted on all counts.
As expected, the price of Solana nosedived in November and declined by 45% from November 11 to 31 December, falling from $18.08 to $8. With rumors of FTX’s insolvency circulating from November 5, SOL had already lost 50% the previous week, when it was trading near the $38 mark. This took SOL’s total losses from 5 November 2022 to 31 December 2022 to 79.4%.ChatGPT certainly sounds optimistic, and early 2023 went extraordinarily well for investors.