In 2022, many asset classes have been severely modified. Without a doubt, Solana [SOL] is one of them. SOL is down 94% year-to-date [YTD], compared to a 60-70 drop for the majority of crypto assets. As a result, SOL has become one of the biggest losers in 2022.

Since its inception, SOL has been the subject of the crypto community. The network has received praise for its fast transactions and low costs. Many people have chosen this item and consider it a wise investment.

While many believe that FTX volatility has ended the asset's winning streak, the head of strategy and communications at the SOL platform thinks otherwise.

Austin Federa, head of strategy and communications at the Solana Foundation, said that despite the failure of crypto exchange FTX, the Solana network continues to attract users and developers. Federa told local media on Tuesday that despite the FTX contagion, the network has seen an increase in on-chain activity. She kept saying,

"What you've seen is the real endurance of users and developers relying on the network."

Sam Bankman-Fried, the now disgraced founder of the insolvent FTX, is a strong supporter of SOL. In fact, according to a blog post published by Solana in November, FTX and Alameda Research, a related trading company that Bankman-Fried also owns, purchased SOL tokens from the platform and the company. its sister company Solana Labs for more than $58 million following the platform launch event. live with a test network.

Federa claims that “initial attention” is beneficial and may have contributed to the growth of the network and the current unrest since SOL-based decentralized finance (DeFi) projects others leave the ecosystem.

Bonk from Solana, an extra element?
Federa claims that despite the release of non-fungible token (NFT) projects like DeGods and Y00ts, developers are still signing up to the network. Federa cited NFT startup Bonk (BONK), whose airdrop saw a significant amount of tokens distributed to Solana users and resulted in a 20% increase in SOL on Tuesday.

She added,

"You don't really see projects moving away from Solana that need the performance and power of the network...... There's a lot you can only build on Solana and those developers are still building here.