Solana has been on a downtrend since the collapse of FTX, as investors have been selling their SOL holdings due to its connection with the Sam Bankman-Fried crypto empire.

According to CryptoSlate data, SOL was one of the worst-performing digital assets in the last 30 days. The digital asset is down over 55% and trading at $13.85 as of press time.

Solana started the month strong, surging to above $35 on Nov. 5, but things took a turn for the worse when reports of FTX’s insolvency emerged. The blockchain network’s value was negatively impacted when Binance revealed intentions of acquiring FTX.

(by Oluwapelumi Adejumo)