Riccardo Curatolo: The Future of Solana is at Risk of Collapse

GateUser-f090498e · 2025-05-04T07:31:23+00:00

Solana, with a market capitalization of $75.9 billion, faces challenges like centralization and technical issues, posing risks related to legislation. Concerns around management concentration and past network failures undermine trust in Solana. Moreover, recent lawsuits highlight investor losses, affecting the project's long-term reliability.

GateUser-f090498e

2025-05-04 07:31:23

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Riccardo Curatolo ( stated that Solana, one of the leaders in the cryptocurrency market by volume with a market capitalization of $75.9 billion and a price of SOL around $146, is facing issues related to centralization, technical failures, and risks associated with legislation.

According to Kuratolo, one of the main problems of Solana that could undermine the project’s position is the high concentration of control over the network. Currently, only 10 largest validator pools control about 22% of the total staking of the network.

The collapse of the Argentine meme coin LIBRA in February, which caused losses for crypto investors amounting to billions of dollars, as well as the possible connection between the collapse of LIBRA and the actions of the platforms Jupiter and Meteora, which allegedly contributed to the liquidity manipulation of the meme coin, have also intensified distrust in the Solana ecosystem.

Over the past four years, the Solana network has repeatedly faced major disruptions, including a 17-hour downtime in September 2021 and a validator failure in February 2024, which negatively impacted user trust and the assessment of the project’s long-term reliability.

Earlier, investors filed a class action lawsuit against the decentralized exchange Meteora based on the Solana blockchain and the venture company Kelsier Labs, accusing them of fraud involving M3M3 tokens, which caused traders to incur losses of $69 million.

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