Reasons why Solana $SOL is dead and going to zero
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1/ Solana was backed by one of the biggest frauds in history. The media portrayed him as a boy genius wunderkind, which made people want to invest in this average blockchain. Now he is disgraced and facing life in prison.
2/ FTX committing fraud and stealing customer funds to invest in Solana projects was the main reason anything was successful on Solana. Now all that money is gone and FTX will forever be negatively associated with Solana.
3/ Multicoin Capital, the biggest advocates for both FTX and Solana took a massive hit. This is following their other notorious 2017-18 bet on EOS. You can feel the LP redemptions in the SOL price right now as it trends to zero.
4/ In addition to many projects choosing to return to or build on Ethereum because of the advancement of Layer 2 technology as well as the constant network outages plaguing Solana,
The two biggest NFT projects on Solana are leaving for Ethereum.
All roads lead back to Ethereum
5/ Many celebrities were paid to promote and shill Solana for FTX as spokespersons.
It’s become clear that Solana was used by FTX as one piece of their elaborate scam to help keep the FTX / Alameda ponzi going.
Ethereum was the real deal all along.
6/ Most of the developer activity on Solana was faked by one guy who has since left.
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