Solana’s Recovery After Nearly Five Hours of Downtime Under Investigation, SOL Rebounds
Solana, which was often mocked as the “crash chain” in its early years, has experienced significant growth to become the fifth largest cryptocurrency by market capitalization, following a recovery from last year’s lows. However, on the evening of 2/6, there was a nearly five-hour outage. After undergoing validator software updates, the network has now been restored to normal.
Solana officials have stated that they will release an investigation report once they understand the cause of the outage.
Based on historical data, the last similar outage for Solana occurred in February 2023, almost a year ago.
The price of SOL started to decline with the outage on the afternoon of 2/6, but quickly recovered to pre-outage levels.
The recent outage of Solana has also sparked mockery from many netizens and served as prime advertising time for supporters of other public chains.
Further reading:
Is ETH and BTC era over? Solana (SOL) emerges as the preferred coin standard.
The Block predicts that Sei and NEAR will become “Solana killers,” and avatar-style NFTs will not make a comeback.
