Matrixport Announces Solana Delisting Due to The Network’s Crisis

Key Points: Matrixport, a cryptocurrency-asset management company, was the latest platform that departed Solana after FTX went bankrupt. The company will delist dual-currency investment products Solana/Solana-U on December 30.
The digital asset management company will not be launching new SOL products in future.
Matrixport launched the first Solana Dual Currency Product in June 2013. Investors can make a profit by taking advantage market opportunities during periods when there is market volatility with the Dual-Currency product.
Matrixport, a crypto asset management company, was the next to say goodbye to Solana following a crisis at FTX. Wu Blockchain, a cryptocurrency reporter, tweeted that Matrixport had announced that it would delist dual-currency investment products Solana (and SOL-U) on December 30. Matrixport, which manages digital assets, has announced that it will delist the dual-currency investment products Solana and SOL-U on December 30. Wu Blockchain, a cryptocurrency reporter, tweeted that Matrixport had made this announcement. Dual-Currency Products allow investors to make returns by taking advantage market opportunities during market turmoil. Due to the 70% drop in SOL prices that followed the demise FTX, Matrixport’s Chief Operating Officer at the time, Cynthia Wu, stated:
“Supporting SOL in our market-leading Dual-Currency product demonstrates our commitment to being responsive to market needs. We expect to add more native tokens to our crypto investment products as the crypto landscape matures. This will allow our customers safe and sustainable access at yield opportunities.
Solana experienced numerous blockchain halts and vulnerabilities over the course of a year. There was also a cessation in developer activity. DeFiLlama also reported that Solana’s TVL dropped from $10 billion to $220 millions in a year. Matrixport was the latest business to end its relationship with Solana. DeGods and Ya00ts, the top NFT projects, recently announced their intentions to switch to Ethereum and Polygon. DeGods and y00ts are the top 2 NFT collections on the blockchain.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.Join us to keep track of news: coincu.comHaroldCoincu NewsTags: DeGodsEthereumjihan wuMatrixportPolygonSOLSolanay00ts