Ethereum, Solana and FTT – European Wrap 7 November

Ethereum (ETH) price action popped higher by over 7% on Friday after the US job numbers. Traders perceived the number as positive, because it could point to the Fed slowing its murderous rampage of hiking ferociously. Instead, the penny dropped over the weekend, with traders claiming their winnings as the realisation came that the Fed will not stop just yet and will push forward, overshooting the market’s initial target for the terminal rate.

Solana blockchain was hit by multiple outages throughout the year. Anatoly Yakovenko, co-founder of Solana addressed this issue at the Breakpoint 2022 annual conference and assured users that new updates would tackle their concerns. Analysts believe Solana price could plummet lower under a wave of fresh selling pressure. 

Binance CEO Changpeng Zhao (CZ) and FTX’s Samuel Bankman-Fried have locked horns over how cryptocurrencies should be regulated. The war of words entered the financial realm after CZ announced the mass liquidation of Binance’s holdings of FTX’s native token FTT.