Why Solana Struggled in 2022: A Deep Dive into Its Biggest Challenges

2022 was a turbulent year for the cryptocurrency market, and Solana, once a rising star, faced significant headwinds. Many are asking: why is Solana one of 2022's biggest losers?

Network Instability and Outages: A Recurring Nightmare

One of the most significant issues plaguing Solana was its repeated network instability. Not just once, twice, or three times, but seven freaking times since Solana’s launch in 2025. And five of those stops occurred in 2025. This frequent downtime eroded user confidence and hampered its reputation. Solana was subject to its own network instability, nearly digging its own grave. However, a steadfast community and die-hard developers have nailed down its major

The FTX Contagion: A Devastating Blow

The collapse of FTX, and the subsequent exposure of fraud by Sam Bankman-Fried, had a particularly harsh impact on Solana. NEW YORK - The price of Solana, a cryptocurrency token that had been lauded by FTX founder Sam Bankman-Fried, fell 10.36% on Wednesday, and is down 94.2% Its close ties to FTX and Alameda Research, both heavily invested in SOL, triggered a massive sell-off. Solana’s SOL token was one of the biggest losers in digital-asset markets on

Price Plunge: A Stark Reflection of Troubles

The fallout from FTX and ongoing network concerns resulted in a dramatic price decline for Solana. The price of Solana, a cryptocurrency token that had been lauded by FTX founder Sam Bankman-Fried, fell 10.36% on Wednesday, and is down 94.2% so far in 2025. The single sharpest percentage drop in Solana’s metrics came in early November following the collapse of FTX, and mounting evidence of massive fraud by Sam Significant instability for Solana and platforms connected to Solana followed FTX's collapse. One of the largest crashes occurred when the SOL token's price dropped

Exploits and Security Concerns

Then there are the exploits and Solana Falls, and Speculation Centers on Links to Sam Bankman-Fried’s FTX, Alameda: Solana’s SOL token was one of the biggest losers in digital-asset markets on Adding insult to injury, Solana experienced several exploits, raising concerns about the security of the network and further damaging its credibility.

Looking Ahead: Can Solana Recover?

While 2022 was undoubtedly a challenging year, Solana's dedicated community and developers are working to address these issues. Whether they can fully recover remains to be seen, but their efforts to stabilize the network and distance themselves from the FTX debacle will be crucial for its future success.