Solana Stumbles: 5-Hour Outage Hits Popular Blockchain (CORRECTED)
Portfolio Pulse from Murtuza Merchant
Solana (CRYPTO: SOL) experienced a five-hour outage due to a bug in the v1.17.20 update, causing its native token, SOL, to drop from around $96 to below $94. The outage, which is not the first for the blockchain, underlines ongoing stability issues. Engineers have since resolved the problem, and the network is operational again. A detailed investigation into the root cause is underway.
February 06, 2024 | 4:15 pm
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Solana's SOL token dropped from around $96 to below $94 due to a five-hour network outage caused by a bug in the v1.17.20 update.
The direct impact of the network outage on Solana's SOL token price is evident, with a notable drop during the downtime. Given Solana's history of outages, this incident may further affect investor confidence in the short term, potentially leading to a decrease in price or slower recovery.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100