Solend a decentralized loan project build on solana network almost create what could have been another sad story in the development of crypto currencies but wisdom from solana government and voters safe the day. We could have had the same story of Luna in our hand if not decisions to stop whales from dumping. Good one from solana team.
As we all know, the Solana token is a layer one Blockchain whose main aim to the solve the problems experienced by Ethereum network such as slow speeds and high gas fees. Something surprising and shocking actually happened, I know that we have seen and heard of a few cryptocurrencies melted off the market due to high volatility but Solana’s token melted down to 40% all the way from 418% on the day of the crash.The good thing about the market recently is that a few of the top cryptocurrencies actually witnessed a bit of recovery in the last few hours or days.
We can commend how hardworking their team might be. Surviving from any problem during this bear market is hard, many people sell their own asset without the strategy of the team and how they are going to take the risk and create plans is really hard for them for sure. I don't say that Luna didn't do their best but I don't know maybe Solend has a very understanding investors and traders.
They deserve some applauding, kudos to their team, this actually goes to show that they are really working hard behind the scenes to keep the token in seat. Currently, I guess the last time I checked, Solana was amongst the top 5 cryptocurrencies or top 10.We all know that so many other tokens crashed out of the market immediately they sensed the crash coming
but for one or two reasons, Solana defied all odds.