Solana price nukes 31% along with other ‘Sam coins’

On Nov. 11, SOL’s price dropped more than 31.07% to around $16 primarily due to its association with Sam Bankman-Fried, the founder of crypto-focused hedge fund Alameda Research and cryptocurrency exchange FTX.

According to data from DeFiLlama, the TVL of the Solana ecosystem has also decreased by more than 42% in the past 24 hours. Similarly, Serum (SRM), a decentralized exchange asset functioning atop the Solana blockchain, crashed by 20.62% in the same period.