Investor in shares and Bitcoin Mike Alfred has tweeted to liken Solana’s native token SOL to Santa Claus in that, whereas youngsters consider in Santa, some adults nonetheless place confidence in Solana and hope to see an increase of SOL sooner or later.

Alfred sticks with Bitcoin, rejects SOL

Crypto analyst Miles Deutscher acknowledged that there isn’t a such a factor as a “dangerous product,” there’s solely a nasty purchase. He believes that after SOL reaches worth at which it’s going to change into a purchase with a +EV (EV=anticipated worth), and at that second it won’t matter if a dealer believes in it or doesn’t.

Alfred prefers to conform to differ. He stated that he would keep on with worth equities and Bitcoin; “To every his personal,” he added.

Earlier than you make enjoyable of that child who nonetheless believes in Santa, simply keep in mind there are individuals who nonetheless consider in Solana

— Mike Alfred (@mikealfred) December 26, 2022

For the reason that begin of November, the aforementioned SOL token (which was once amongst these known as “Ethereum killers”) has been in free fall and misplaced greater than 50% — the value dropped from the $36.88 stage to the present $11.35 mark.

What occurred to SOL not too long ago

Solana was a kind of platforms that critically suffered from the notorious crash of the FTX alternate and the chapter of its founder, Sam Bankman-Fried. SBF supported SOL strongly, and plenty of of his ventures invested in it closely. Amongst these investments was a purchase order of $1.2 billion price of SOL by way of his pocket buying and selling agency, Alameda Analysis.

Apart from, Alameda reportedly held $1.15 billion on this token after which started promoting it, together with different altcoins, to stop the collapse of FTX’s native token, FTT.