Ongoing FUD Around Solana, Despite Its Boom in the Market

  • The latest ongoing FUD around the trending crypto Solana
  • Solana (SOL) is market’s foremost projects in recent months
  • Besides rising FUD, SOL is closing on the $255 mark. 

Cryptocurrencies are recording a wide attention from the people for the past two years in specific. Businesses around the world, financial institutions are adopting digital payments and services. Thus supporting in great hand for the rise of cryptocurrencies in the existing market. 

In particular, it is worth saying that Solana (SOL) has become the center of attraction among other cryptocurrencies. For the past few months, Solana has been performing smartly with remarkable surges. Also, Solana is expanding its network inaugurating NFTs to with-stand as a long term competitor against Ethereum platform

Thus, with a continuous spike, Solana wallet Phantom holds 1,000,000 active users also achieved in making new ATH in recent months. 

Solana’s challenging FUD 

As the presence of  Solana is booming with surging price values, there is some ongoing FUD trying to affect its performance. There are some allegations raised from the CEO of Cyber Capital, Justin Bons against Solana (SOL). He claims that the recent hype of Solana is a long series of lies, fraud & deception. 

Further Bons is raising all his accusations through a series of tweets posted in twitter outbreaking. Besides, Bons is stating that, Solana community released its total circulating supply as 8.2M in early April 2020. But, the total supply was above 20M in reality. Thus, Solana had additional 13M coins hidden in a wallet uncovered. 

In addition, the CEO, Bons is adding up its claims saying, Solana failed to officially publish its circulation supply in the info page in Binance as well as in its CoinMarketCap profile. Further, when related questions and critics were pushed, the CEO of Solana, Anatoly Yakovenko released a post addressing the issue. 

Justin Bons Continuous Claims

However, Bons is stating that, even the published post was a Medium article admitting to the fraud, he adds. As an immediate solution, Yakovenko announced to burn those extra 13M coins within 30 days as it is loaned to the market maker. 

Even strengthening the case, Bons is claiming that, Solana team did not burn those coins as per their commitment. Likewise he was raising the accusations against Solana to prove that is fraud in nature. Surprisingly, along with Bons, there were many crypto whales and individual users claiming the same concerns. 

However it is a hard time for Solana (SOL) to face all these challenges, it is still a good performer in the market. Importantly, to sum up SOL’s performance, its current market value is $252.29 with a spike up to 3.62% in the last 24 hours.

Hence it is clearly seen that these FUD remains unaffecting the Solana value in the crypto marketplace. But, the crypto industry is full of twists and turns, so let’s wait and watch about the FUD roll out on Solana. 

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