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 exploring other options over the past month. It added that Everlend is one of the excellent products which will someday become very handy.
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