SBF released, Will Solana ($SOL) come back?

[o48o]

Well this time, I don't think SOL have any chances of recovering knowingly fully well how deeply connected SOL is with FTX and the whole shambles that happen to it developers and owners.this situation have affected the entire cryptocurrency market and Even ethereuem is also suffering from the aftermath of the November FTX bankruptcy crisis, San bankman-fred is facing fraud, money laundering charges and possible 10 years jail terms this event have lead to many project crashing, so I believe that there will be worst days ahead for SOL and no matter the bullish statement from any individual, it price may not recover since cryptocurrency trustees and this situation have betrays the little trust investors hard for centralized projects.

I am not saying it would be fast or easy ride back to top. It always take a lot of time for investors get their confidence back, especially when we look at the facts and what brought the market down.

And in the new bull run lot's of people won't even remember how this fear on the bear run felt or why on earth they didn't buy the bottom. It takes a lot of stupid bravery to invest the bottom, because most of the time it isn't the bottom.

[Baofeng]

And if he released but temporarily only, he is on bailed and anytime he could go back to jail. As I have said previously on Solana getting involved their name in this debacle, it will be very difficult to come back and make a clean slate again. Their names will be dragged here and who knows, they could be mentioned in the court hearing or deposition that it will really damage their reputation.

So with that, I'm not seeing them making a comeback specially that we are still in the bear market this coming 2023. Maybe some entities are going to take advantage and put a pump and dump scheme, but that's the best scenario for now, pure p&d and then investors losing this confidence in this project. I not saying that Solana is bad, they are solid, but we know in crypto that once you reputation has been in question, it's hard to make a comeback.

[blockman]

Everyone seeing some bad news with solana. Projects made through solana are bridging to other chains.
It is no longer about sbf but solana itself.
Hacks that has happened there made the worse for solana and I guess we are going to see the next big downfall of a project on 2023.

[Strongkored]

So whats your opinion?

I don't think alameda or SBF will sell all of their SOL because this will further jeopardize their position, I'm sure they still want to be in the crypto world creating new projects and making bigger profits, so they will try to pump the SOL market slowly increasing price and start planning something else to come back to earn them the trust of investors even though it's a difficult thing

[GreatArkansas]

So i think there are 2 scenarios,
1st, $SOL will come back, as SBF will find a way how to make it "pump" again. We know $SOL price has been dropped -95% from ATH
(....)

For me, it's now nothing to do with Sam Bankman-Fried after all. It just sucks that the major backer of Solana is the fraudster, FTX Exchange/Alameda or in short, Sam Bankman-Fried.
We all know that Solana is one of the best L1 alternatives for Ethereum before and became a big player/gainer during the last bull market but after that, Solana also became the big loser after all plus this issue on FTX.
For me, Solana will continue with or without Sam Bankman Fried, it's just good that Solana right now is still here.

[adaseb]

Like I said before and I’ll say it again, try and avoid this coin at all costs. Besides all these server issues they had in the past. Their connection to FTX is way too close.

Also don’t forget that they own many of the locked sol tokens and these will be liquidated in the bankruptcy preceding to pay off all the creditors. Just like MtGox sold back in 2018.

[michellee]

If you want to gamble with SOL, you can buy it now and hold on to it, hoping the price will go up and return to its original high. But if you are not sure about SOL, you don't need to buy SOL and leave it and look for other coins.

We don't know what impact this news will have because investors seem to have distrusted SBF and are trying to leave it with losses. Investing in SOL has risks because we have seen what happened to SOL. So it's better to be careful and think about it well so you won't regret it later.

[o48o]

Just wanted to point out, that i noticed sol moving up right now and i checked the charts. Sol is up 65% this year. You can hate it all you want but that's pretty impressive for such a high marketcap coin in a bear market.
And then there's the bonk rally that raised some eyebrows. Who knows, maybe sol will lead us to altseason. I for one am amazed as i thought the fud would bring it beyond recovery.

[yhiaali3]

And then there's the bonk rally that raised some eyebrows. Who knows, maybe sol will lead us to altseason. I for one am amazed as i thought the fud would bring it beyond recovery.

I'm also a bit surprised, I was expecting Sol to not come back after so much bad things that happened and were talked about.

But given the current price index, I think Sol is in a fairly good position compared to the lowest point it reached around $9. This is a good performance given the difficult conditions that Sol went through.

Personally, I hope Sol recovers because I used to consider it as good coins in the market, but so far there are no strong factors that make me say that Sol has fully recovered, this improvement can only be temporary.

[beerlover]

If you want to gamble with SOL, you can buy it now and hold on to it, hoping the price will go up and return to its original high. But if you are not sure about SOL, you don't need to buy SOL and leave it and look for other coins.

We don't know what impact this news will have because investors seem to have distrusted SBF and are trying to leave it with losses. Investing in SOL has risks because we have seen what happened to SOL. So it's better to be careful and think about it well so you won't regret it later.

It's really an obvious situation where too many people are overreacting to the situation. I know it's not going to be easy to accept SOL as a great investment, and you shouldn't if you do not want to but the idea behind rejecting it is a dangerous one if you are only worried about the movement.

Think of this as something that could put in danger, if you saw the pump and dump and then decided it's too risky and that's why you won't invest, there will be some good projects with pump and dump that will not mean it's gone. Maybe SOL is not one of them and it's okay not to invest into that, but there will be others and you should invest into them at the very least.

[Silberman]

And then there's the bonk rally that raised some eyebrows. Who knows, maybe sol will lead us to altseason. I for one am amazed as i thought the fud would bring it beyond recovery.

I'm also a bit surprised, I was expecting Sol to not come back after so much bad things that happened and were talked about.

But given the current price index, I think Sol is in a fairly good position compared to the lowest point it reached around $9. This is a good performance given the difficult conditions that Sol went through.

Personally, I hope Sol recovers because I used to consider it as good coins in the market, but so far there are no strong factors that make me say that Sol has fully recovered, this improvement can only be temporary.

We need to strive to look farther than just the price of Solana, right now it has presented a nice recovery, but should that be enough to get people excited about a massive growth during the next months? Not really, Alameda still holds a massive stash of Solana, enough to crash the price by themselves, and if you add FUD to the equation, the reputation of SBF and its upcoming trial then it is very difficult for me to believe Solana will ever recover its former glory.

[o48o]

-cut-
Alameda still holds a massive stash of Solana,
-cut-

Where did you find this information? from what i know Alameda haven't owned SOL since November. And while liquidators got them under their control, they can't sell it until bankruptcy is completed. And that could take over 10 years.

So the biggest problem in SOL i see that this fud could and most likely is going to last over 10 years, and users end up waiting it to crash in next 10 years you take a toll.

[Periodik]

Solana has recovered big time in the past week. It grew by 20%, but this is not the comeback that many might be expecting. This is not a sign that Solana has recovered from the damage connected with SBF. The growth of Solana is related to the recovery of Bitcoin and many altcoins.

I doubt Solana will be back at the top 10.

[WalkerIVIV]

I highly doubt that his release would be of any effect towards SOL considering the fact that many of us has lost the trust in him, the only reason solana is rising right now is because bonk, other than that I could hardly see it could climbs up its value even higher, the only way for solana in keeping its worth is through meme coin that is BONK nothing more and that's not some strange feat considering this meme coin rise so significantly.

[shinratensei_]

If you want to gamble with SOL, you can buy it now and hold on to it, hoping the price will go up and return to its original high. But if you are not sure about SOL, you don't need to buy SOL and leave it and look for other coins.

We don't know what impact this news will have because investors seem to have distrusted SBF and are trying to leave it with losses. Investing in SOL has risks because we have seen what happened to SOL. So it's better to be careful and think about it well so you won't regret it later.

agreed, quite literally there are many alternatives that's just as good, solana might have the chance to increase again in the future but i still think that investing in its alternatives seems more logical choice honestly.
there are matic that has many projects in its platform and it's growing so fast enough that i'm sure next bullrun it's gonna be one of leading coin in term of value, then there's eth and btc that has lost quite of its value meaning recovery is imminent, I think even with presence of SBF coming back, solana will just stuck, everyone already losing their trust towards SBF anyway.

[adaseb]

When word gets out that the liquidator trustees is starting to liquidate their assets such as their liquid coins and it shows up on the blockchain as being sent to exchanges then there is going to be a massive sell.

Remember when MtGox was selling coins in 2018 and caused BTC to crash, some of that sell pressure was due to the trustee liquidating the BTC so they can make users whole in US fiat terms. Here it will be no different.

[CapGelatik]

I will remind you that even though he is released from prison or maybe he was released by several people,
of course the right reason for all of us is not to repeat the second mistake,
that is don't invest in FTX and SOL, never mind what FTX or SOL will be like later,
there are still lots of projects a good altcoin that has the potential to become the next FTX and SOL and of course really very safe,
that is DOT, XLM, or BNB are altcoin names which are really good for investment.