Analyst Who Knows FTX Collapse First of All: FTT Is Dead, Solana…

Ben Armstrong, who appeared to have assumed the FTX (FTT) crisis before, has now appeared with Solana (SOL) comments. Here are the details…

Ben Armstrong replied: Where is Solana (LEFT) going?

Youtuber Ben Armstrong, also known as BitBoy Crypto, asked, “Where is Solana going from here, with FTT clearly dead?” he tweeted. Thus, he asked the crypto community’s opinion on Solana. Armstrong reminded the crypto community that Sam Bankman-Fried, CEO of the near-bankrupt FTX exchange, is a huge advocate of Solana. Still, he made a succinct comment that “but he [SBF] wasn’t Solana,” despite Bankman-Fried being a big defender of Solana.

Therefore, Armstrong separates Solana from Bankman-Fried. So, he reveals that he thinks the collapse of FTX will not affect Solana in the long run. Moreover, the YouTuber hypothesizes that Solana, although currently in a bearish trend, has the potential to bounce back. Also, in his previous Twitter posts, he used the following sentences while commenting on Solana’s potential:

…But I don’t think SOL is dead. It’s more like in a “pause” phase right now.

Ben Armstrong had warned

Koindeks.com As we have also reported, Armstrong had previously come to the fore with his negative views about FTX CEO Sam Bankman-Fried. He argued that Bankman-Fried was lobbying the authorities. In addition, in the posts he made in the past period, he stated that he would disclose many activities of the SBF. He argued that FTX had a plan to victimize users due to a bug in the exchange API.

The analyst also underlined Bankman-Fried’s willingness to seek support from Justin Sun. He suggested that unless there was a basis, the SBF would threaten to sell and destabilize Sun in USDD. Bitboy’s tweets got so much repercussions that even Ripple CTO David Schwartz tweeted that Armstrong had already issued a warning about the FTX collapse.

Does Solana have a chance to rise in the upcoming period?

With Solana’s past price movements, Armstrong’s predictions are claimed to be strong. Some users argue that current technical developments point to strength in the SOL. According to some experts, if the Solana bulls continue to push prices, the resistance levels may be broken. On a different note, according to a Twitter user, Solana can keep the bears away. Crypto user, a fund manager, explained the reason for Solana’s price action and why he is betting on the bullish side in the coming months.

He states that Solana could generate 20x-30 returns in the next cycle. The user states that the problem with Solana’s centralization is gone, as Solana ranks 3rd on the Nakamoto Coefficient, a metric for network decentralization. Additionally, the user shared that NFTs are successful in Solana. In addition, the user pointed to an update that will almost eliminate the risk of network outages in early 2023.

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