Solana Network is in trouble because of a $107 million liquidation.

Altcoin Daily tweeted earlier today that there is a chance that Solana (SOL) will hit $0 today.

One possible reason for this is that Solid, the biggest lending market on Solana, is facing a “crippling” liquidation of about $170 million SOL, which could cause the network to crash.

In a YouTube video, Altcoin Daily explains why Solana could reach $0. In detail, a whale put away 5.7 million Sol and borrowed 108 million USDC and USDT. This is a big part of how much Solana has borrowed, and now this position is at risk of being liquidated.

Also, the problem is that a large liquidation in a market that isn’t very liquid and is unstable, like Solana, can have very bad effects.

So far, many people think they know who the whale is, and people have tried to get in touch with the whale to get them to restructure the loan, but so far, these attempts have failed.

The video went on to say that this liquidation could cause chaos and put even more pressure on the Solana network. Now, liquidators will be very busy, and they will probably use the liquidation function too much. This could make things even worse, since the liquidation function was one of the things that brought down Solana in the past.

The Solana network has already been down seven times in the last 12 months, which is important to know. The issue of investor trust also comes into play, since Solana wants to steal the user’s money and do OTC trades with it. This makes you doubt what decentralisation was supposed to do.

Solana is currently the ninth most valuable cryptocurrency by market cap. Its price has gone up by 9.30% in the last 24 hours, making it worth $32.11 right now.

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