How is Solana’s value affected by social media-induced FUD, commentary
The association with FTX brought misery to SOL in the past as well. The stunning collapse of the exchange in the fall of 2022 brought down the market....
- SOL (Solana) experienced a nearly 10% drop in price when social mentions of the asset increased due to FTX's liquidation plan.
- The correlation between negative social commentary on SOL and its impact on price performance is highlighted.
- FUD (fear, uncertainty, and doubt) surrounding FTX's liquidation plan has caused concern among holders of SOL.
- SOL has faced previous challenges, including the collapse of FTX in 2022 and network disruptions, which have affected its price and social mentions.
- Despite these challenges, SOL has shown some stability recently, with a 4.26% increase in price on the 7-day chart.
The article discusses the negative impact of social media-induced FUD on SOL's price, highlighting the correlation between negative social commentary and price performance. It also mentions previous challenges faced by SOL, such as the collapse of FTX and network disruptions. However, it notes that SOL has shown some stability recently with a price increase.