Ashish Kumar
Solana (SOL) made a remarkable comeback after sliding into single digits back in December 2022. Solana price jumped by 112% in the last 30 days to trade at $25, at the press time. However, the SOL network has been hit by another bad news amid the recovery.
Everlend Finance, a DeFi lending protocol mode on the Solana blockchain, announced a full closure. The shutdown is led due to a liquidity crunch.
In a Twitter thread, Everlend stated that it was a very tough decision for the team. However, they tried to avoid this situation by trying and explore other options over the past month.
(THIS IS A DEVELOPING STORY)
The post Solana Based DeFi Lending Protocol Shuts Down; SOL Price To Feel The Heat? appeared first on CoinGape.
