Solana lost nearly 95% of its value over the past year, in the aftermath of the FTX collapse and bankruptcy. The Ethereum-alternative is struggling to hold steady after Samuel Bankman-Fried’s FTX exchange suffered insolvency. Experts believe the Solana price rally relied on the marketing efforts of Samuel Bankman-Fried (SBF).
Uniswap (UNI) price action jumps nearly 2% in the ASIA PAC and European trading session on Thursday as bulls are buying the dip after the bearish breakout from Wednesday. UNI price action broke lower, out of the pennant formation it was in for most of December. Although this rally looks promising, the current backdrop is too bearish to see this rally mean anything substantial, and rather has the broad strokes of a dead-cat-bounce that would see price action eventually drop towards $4.73.
Polkadot (DOT) price action tanked on Wednesday as global markets continued their sell-off, with equities leading the decline off the cliff. One of the scenarios on the table was that this last trading week trading would be very binary due to thin liquidity, and it could feel as if traders were flipping a coin on where they would next take price action. As the (snow)ball is rolling now, it is time to get out of the way in order not to get caught in an avalanche.
