When FTX collapsed in late 2022, **Solana (SOL)** faced a massive crisis. The blockchain had deep ties to the exchange and its founder, Sam Bankman-Fried, causing many to doubt Solana’s survival. Prices tanked, developers fled, and the community held its breath.
But what followed was one of the most remarkable turnarounds in crypto.
Solana’s **core strength—its speed and low fees—never disappeared**. Independent builders doubled down, new projects emerged, and the ecosystem began to decentralize away from FTX’s shadow. In 2023 and beyond, Solana saw explosive growth in **NFTs, DeFi, and memecoins** like BONK and WIF, reigniting user interest.
Moreover, the network handled record-breaking volumes during congestion stress tests, proving it could scale without sacrificing performance. Strategic partnerships and the rise of **Solana Mobile and Solana Pay** positioned it for broader adoption.
From near collapse to a leading smart contract platform, Solana’s revival proves that **strong tech and a resilient community can outlast even the biggest black swans.