Official answer: Yes, Solana (SOL) can recover from FTX collapse. The Solana Foundation is committed to supporting the network and its ecosystem, which includes exchanges, developers, and the community. They are working with exchanges, developers, and the community to ensure that the network remains secure, reliable, and resilient. This commitment to the network will help to ensure that the SOL token recovers from the FTX collapse and continues to increase in value.
Informal answer: It might take a few months for SOL to recover. Two top Solana NFT projects, DeGods and y00ts, have announced they are leaving Solana, in order to migrate to Ethereum (ETH) and Polygon (MATIC) blockchains. However, the average NFT mints per address are still increasing on Solana:
Furthermore, Solana has still a strong community with many active developers:
Therefore, although SOL might remain bearish for a while, it could recover in the longer term to get back into the top ten cryptos after Bitcoin (BTC) and Ethereum (ETH).
Disclaimer: this article does not contain any financial advice. The information is provided for general informational and educational purposes only.
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