Solana, the ambitious blockchain ecosystem, showcased its resilience in the face of adversity, experiencing a significant network outage that temporarily impacted its cryptocurrency value. The recent dip in SOL’s price, dropping to $93.36 during the outage, highlighted a challenging moment for the blockchain platform. However, the subsequent rapid recovery, with SOL currently trading at $101.80, reflects the network’s ability to bounce back, marking a notable 6.6% increase in the past 24 hours. Related Reading: Cardano Price Stagnant At $0.48, But Charts Point To Potential Upswing Source: Coingecko Solana: Price Stagnation, Surge, Outage Recovery Amidst weeks of relative price stagnation, where SOL fluctuated between $90 and $99, Solana’s recent surge contrasts sharply. This period of minimal price change mirrored a cautious sentiment prevailing in the cryptocurrency market, contributing to a 10% correction in Solana’s value, painting a tentatively bearish picture. The network faced a four-hour and 46-minute outage, causing considerable disruption. Despite the setback, Solana’s developers swiftly addressed the issue by implementing a new software patch from Solana Labs. The recovery process involved mainnet validators restarting their nodes with the update ..
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