'It's okay, but because of the criminal who promoted it, the reputation is ruined.'
Ever since the collapse of crypto exchange FTX and the arrest of Sam Bankman-Fried, the Solana (SOL) blockchain network is currently under pressure.
The latest news found that the 2 main non-fungible tokens (NFT) projects of the network managed to find a way out to cling to the Ether (ETH) and Polygon (MATIC) ecosystems.
Y00topia and DeGods are now reportedly going to say goodbye to SOL by officially switching to the ETH and MATIC networks in the first quarter (Q1) of 2023.
Through tweets on Twitter, the official accounts of Y00topia and DeGods confirmed the transition.
y00ts will officially bridge to @0xPolygon in Q1 2023. pic.twitter.com/Mnz25dJko1
— y00ts (@y00tsNFT) December 25, 2022
DeGods will officially bridge to Ethereum in Q1 of 2023.
The bridge is not the destination.
It is on the path to get there. pic.twitter.com/Wy8CbGx5VZ
— DeGods III (@DeGodsNFT) December 25, 2022
In the meantime, Solana appears to have taken a big hit from the collapse of FTX as the exchanger firm holds nearly $982 million in SOL.
It's even worse when Bankman-Fried before being caught often proclaimed his support for the SOL ecosystem leaving a bad image on the blockchain.
As of last month, SOL which was once a top 10 crypto based on market capitalization is now ranked 16th with a market value of $5 billion compared to $13.5 billion before the FTX incident.
