Solana News: Majority of FTX Creditors Intend to Reinvest in Cryptocurrencies, with 62% Favoring Solana

Despite the collapse of FTX, creditors remain optimistic about cryptocurrencies, with a significant portion planning to reinvest in Solana.

Majority of FTX Creditors Plan to Reinvest in Cryptocurrencies, 62% Favor Solana

Despite FTX's $9 billion collapse in 2022, a survey reveals that 79% of FTX creditors intend to reinvest their repayments in cryptocurrencies, showing continued optimism. The survey, conducted by NFTevening in partnership with Storible, further indicates that 62% of respondents plan to buy Solana with their repayments.

Solana's Layer-2 Solaxy Raises $22.7M in ICO, Pump.fun Volume Drops 43.37%

Solana's first Layer-2 chain, Solaxy, has raised $22.7 million in its presale, showing strong investor interest in the project. However, the wider Solana network is still feeling the effects of the recent $LIBRA scandal, with Pump.fun's daily volumes dropping by 43.37%. Despite this, Solaxy's successful fundraising could provide a glimmer of hope for the network to break its January peak.

SOL Price Drops to $161, Triggering Trader Panic; Web3Bay Presale Emerges as Safe Haven

The crypto market has been thrown into turmoil as Solana (SOL) experiences a sharp decline to $161, sparking widespread panic among traders. Once trading close to $293, SOL's bearish pressure has investors fearing further losses. Amidst this chaos, Web3Bay's presale stands strong, raising $1.5 million and positioning itself as a stable investment alternative with high-growth potential and lower risks.

Franklin Templeton Files for Solana Spot ETF

Franklin Templeton has filed for a Solana (SOL) spot ETF, joining five other hopefuls in the race to launch a SOL ETF. The asset manager registered a Solana trust in Delaware on Feb. 11, which will form the basis for the ETF. The proposed ETF is set to be listed on the Cboe BZX Exchange. Franklin Templeton may stake some of the SOL in the fund, with staking rewards treated as fund income. Many firms are awaiting a decision on a SOL ETF. After the filing, the SEC will acknowledge the application and open a comments period.