Problems for the Solana network are getting worse, as multiple exchanges are delisting USDC and USDT on Solana. These include Binance, OKX, and BitMEX. It’s a massive downgrade for the Solana network and predictably the price has tanked.
Solana was closely associated with the FTX and Alameda Research ecosystem. The ties with the two entities have wrought havoc on the price and things look bleak for the network’s future. The rest of the crypto market is also suffering but there is some hope in the form of other projects.
Solana Price Analysis
SOL has fallen far from its all-time high.
The price of SOL continues to fall, with it currently hovering around $13.56, down over 4% in the past 24 hours. It is down about 95% from its all-time high and as more revelations come out, it might just drop even further. The price is the lowest it has been since February 2021.
It’s not surprising to see Solana decline this sharply. The Solana Foundation had roughly $1 million in cash or equivalent assets on FTX, which is now stuck on the platform. Furthermore, it holds approximately 3.24 million shares of FTX Trading LTD stock, 3.43 million FTT tokens, and 134.54 million SRM tokens.
Technical indicators for SOL are bearish, as the asset trades inside its $13 horizontal support area. If it continues to plunge, it could fall to its next support level of $4. Currently, it appears to be forming a bottom support level of $12.2.
RobotEra Dominating in its Presale, Calvaria Also Impresses
🔥 Don’t miss a chance to fill your bags!
🙌 #RobotEra provides unlimited opportunities to line your pockets!
😎💰We’re thrilled to announce that you’ll be able to earn by operating player continents or independent continents
Join #RobotEra now ➡️ https://t.co/Sg49djUM7x pic.twitter.com/9kF1wFIeHd
— RobotEra (@robotera_io) November 17, 2022
While major tokens are taking a tremendous beating, there are two projects that are bucking the trend and making considerable headway with their presales.
The first is RobotEra, a metaverse project that has the skin of a futuristic robot and a sci-fi universe. While, at a quick glance, it may seem like any other metaverse, there are several characteristics that distinguish it from other metaverse projects.
Those characteristics have to do with being a perfect playground for social experiences, which is what metaverses are all about. RobotEra provides tools and has a general design philosophy centered around being a robust social platform. Players can attend events and places like music concerts, casinos, salons, and more.
However, the most important feature is the fact that players can create their own robot companions and interactive experiences with an editor. They don’t even need any coding experience – the editor can be used by anybody, which allows more people to create these experiences.
There are also many ways to earn in the RobotEra metaverse. TARO is the project’s token and this powers the whole ecosystem. It can be staked for an attractive APY, or players can sell their created robots and even continents on a marketplace. However, RobotEra is a social space and the team has cleverly incentivized this by allowing players to host events and price tickets in TARO.
Go On, #RobotEra Army! 📣
Join the presale now and don't miss a chance for massive gains ⬇️https://t.co/UJ3inomU89 pic.twitter.com/rzgQLCZQxe
— RobotEra (@robotera_io) November 17, 2022
The first stage of RobotEra’s presale is in its first few days, but it has already done well. So far, it has raised $119,000, with the price TARO priced at $0.020. The price will be $0.020 in the second stage and the third and final stage will see it go to $0.032. TARO can be bought with either USDT or ETH, and the minimum investment is $20.
Another presale that it is doing well in this bear market is that of Calvaria RIA token. The project is a card battler P2E game that offers F2P and P2E versions. It has a strong focus on being accessible and together with it suite of features, the presale has managed to attract many investors.
The game is set in the afterlife and players have NFT from different factions that are vying for power. The game’s striking artwork is another major reason collectors are investing in the presale. One key feature of Calvaria is that it has a story mode, which is very rare in the P2E space.
The major features of Calvaria are its staking system, in-game store, mini-games, and scholarship system. The project will also have its own DAO, as the team is adamant that the community drives decision-making.
Calvaria is currently in the fourth stage of its presale, which is nearing completion. The token can be bought with ETH or USDT, with 1 USDT netting you 40 RIA. The token is currently priced at $0.025. The next stage will see it go to $0.030.
SOL is Down, But Other Tokens Going Up
Solana is facing a make-or-break period as many exchanges choose to limit their exposure. The network is holding fine for now, but the SOL token may take another fall as more information on the FTX case becomes publicly available. In the meantime, there are projects in the market that are proving to be strongholds for investors who are looking for solid execution of ideas. RobotEra and Calvaria are among those, raking in investments even during a bear market.
