BitBoy, a million-subscribed Youtube analyst, is destroying the Solana network. “Are you surprised by what we’re seeing right now?” in his latest tweets. said. Now he says that the last resort is this altcoin industry.
BitBoy says game is broken for Solana
Crypto phenom Ben Armstrong, founder of BitBoy Crypto, is spreading FUD statements about Solana Blockchain. Earlier today, Armstrong claimed on Twitter that Solana was dead and there would be no other way to save the network. In his November 26 statement, he highlights these 5 altcoin projects:
Solana is dead, folks. Sorry, there is no other way. The NFT community may be the last resistance. VoomioNFT will be released with ETH, MATIC, ADA and SOL, so we hope the NFT community expos will do well here.
Solana is dead folks. I’m sorry there no other way around it. The NFT community may be the last stand. I hate it for those folks. And the people who built on it.@VoomioNFT will be launching with $ETH, $MATIC, $ADA, & $SOL so we hope the NFT community fairs decent here.
— Ben Armstrong (@Bitboy_Crypto) November 26, 2022
Armstrong made interesting claims about Solana in his other tweets. He said many of his cuts in my last years were the door to them. The crypto phenomenon says, “Every time Solana pauses, Alameda is laundering money. This directly means exploiting the decentralized nature of Blockchain. The most critical aspect of Solana over the years has been that it was directed by a group of people. BitBoy also says that they are manipulating over SOL. The allegations are as follows:
Every time Solana paused… in fact, Alameda Research was dealing with money laundering and brute force. There are other receipts as well. If you think… knowing what we know now, does that surprise anyone?
Every time the Solana blockchain paused… it was actually Alameda Research laundering money and brute forcing transactions.
There are others out there receipts. And if you think about it… knowing what we know now, does this surprise anyone?
If you are in $SOL, run for hills
— Ben Armstrong (@Bitboy_Crypto) November 26, 2022
Contrary to Armstrong’s claims, Solana is rising given the current price action, according to data from CoinMarketCap. SOL grew 15% in seven days, up 3.32% in total market capitalization. It gained 3% against Bitcoin (BTC) and Ethereum (ETH), although 24-hour trading volume was down over 25%. It was the third best performance after BNB and Litecoin in a seven-day window.
Specifically, the collapse of the FTX exchange is the main reason behind the SOL price drop. A few years ago, Solana raised $300 million in the ICO phase, including Alameda. In exchange for the financing, Alameda obtained a large sum of Solana. However, analysts say Alameda is selling SOL to offset the falling FTT. Along with FTX, Solana had clearly fallen hard.
SOL moves away from the top 15
On November 8, the “crypto feud” between CEOs CZ and SBF exploded. This resulted in the biggest bull trap in recent years. CZ announced that on these dates, Binance will taunt the FTT tokens in its hands. Thus, the exit of 152.6 billion from the crypto market was triggered. This resulted in huge drops in token prices.
The tweet raised questions about the solvency of FTX, which presents a somewhat implausible scenario given its stance and willingness to bail out Terra LUNA bankrupt CeFi platforms. UpOnly TV presenter Cobie commented that the pace of the situation has caught up with many “long-term and smart crypto people” who have no clue what is going on behind the scenes at FTX.
You can reach the curious questions from this article of Kriptokoin.com.
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