Why Solana has crashed more than cryptos Bitcoin, ether since FTX crisis

Crypto altcoin Solana, which was tied to a blockchain backed by Sam Bankman-Fried, declined more than 52% in just a week, leading the crypto slump as the fallout from the collapse of Fried's FTX empire continued to reverberate. Solana's market value has fallen from a peak of almost $80 billion last November to just over $5 billion, according to data from CoinGecko. By comparison, ether has fallen about 20% and bitcoin 19%.
If we look at the performance of Solana, it has slipped by 95% from its all-time high in November 2021. The recent developments at FTX have rattled the crypto market which is pushing investors away from riskier assets. The market is anticipating that Alameda research could offload its entire SOL holdings which is its second-largest holding after FTX," said Tarusha Mittal, COO and Cofounder of UniFarm, a group staking platform.It is important to note that Solana is a layer 1 blockchain meant to facilitate smart contracts and forms the foundation for crypto-related financial services and the long-term prospects of SOL cannot be underestimated as the mass adoption of Defi will thrive on Solana and other similar blockchains, Mittal added.