Why crypto Solana's price crashed the most in a week amid FTX collapse

As the fallout from the collapse of Sam Bankman-Fried's FTX empire continued to reverberate

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which was tied to a blockchain backed by Fried, dropped by more than 52% in just one week.

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Zhao said Monday the goal was to “reduce further cascading negative effects"

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[{"selector":"#anim-38f1a340-49f8-423d-8bde-e7ea231af5fe [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":500,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-5257556e-d13a-406f-b7ec-58174bb453cb","keyframes":{"opacity":[0,1]},"delay":500,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8a45ee0e-acf6-4bf1-bc59-f5f74efcd457","keyframes":{"transform":["translate3d(-114.87342%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d69f67e2-5020-436c-aaf5-4786abc492d5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":500,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-48bb7754-292c-4497-bbc6-3d840fc06bcd [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":500,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-e7cfc023-2671-4721-85c5-0d516d9213c5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":500,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] According to data provided by CoinGecko, the market cap of Solana has decreased from

[{"selector":"#anim-637b7e95-835f-43c5-a91f-1b27126c6d9d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(0%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":500,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-7a2a83d7-8822-4b20-9983-3b05d69a6ce2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":500,"duration":4000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] November 2018 high of nearly $80 billion to just over $5 billion.