Due to its association with the FTX exchange, cryptocurrency Solana continued to fall for a third day Monday, dropping to roughly $14 per token. That represents a fall of roughly 95% from its all-time high of $259.96 last November.

According to CoinGecko data, the token has lost 61.6% of its value in just the last seven days.

Solana’s fall is a direct result of the collapse of the FTX cryptocurrency exchange, which filed for Chapter 11 bankruptcy protection on Friday. Since the filing, Solana has lost $5.5 billion in market value as its token has fallen 51.5%.

Cryptocurrency exchange Binance had temporarily flirted with acquiring FTX, however it reported that during due diligence it detected mishandling of customer funds, and feared there would be extensive regulatory, and criminal investigations, and it backed out. FTX was left needing to raise roughly $9 billion in liquidity from investors, to stay afloat, and after the Binance statement, it was unable to do so.

Shortly after FTX filed for bankruptcy, the blockchain research firm Nassen detected a $662 million outflow from FTX’s US and international exchanges, The company’s main wallet, which it used to handle withdrawals, was emptied of its entire balance of 45.8 million FTT tokens, worth an estimated $97.2 million.

Meanwhile, Binance CEO Changpeng Zhao has announced an intention to set up an industry recovery fund, to “reduce further cascading negative effects” of the FTX bankruptcy. Zhao said the project was intended to help strong projects which find themselves facing a liquidity squeeze, so as to reassure investors in the crypto-space.

The crypto market is presently down 17.6%, or $188.4 billion since November 7th. Major cryptocurrency bitcoin has lost 22.4% in a single week. Ether, the second largest cryptocurrency by market value is down 24.4% over the last week, as investors appear rattled by the FTX collapse.