SOL - FTX Token and Solana Continue to Slide as Cronos Bounces Back on Monday
The fallout from the FTX blowup and bankruptcy last week has continued early this week, and the crypto moves are in different directions.
FTX Token (CRYPTO: FTT) fell 25% in the last 24 hours as of 11:45 a.m. ET, which shouldn't be a surprise because the exchange is bankrupt and there's no reason the token should have value. Solana (CRYPTO: SOL) is down 3.2% in the last day but is now down 57.9% in the last week because FTX was a large investor and is likely selling tokens.
On the plus side, Crypto.com's token Cronos (CRYPTO: CRO) is up 14.9% in the last 24 hours.
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FTX Token and Solana Continue to Slide as Cronos Bounces Back on Monday