![Solana [SOL] suffers yet another technical challenge, details inside](https://i.headtopics.com/images/2023/2/26/cryptoamb/solana-sol-suffers-yet-another-technical-challenge-solana-sol-suffers-yet-another-technical-challenge-1629731236653457410.webp)
Solana adds yet another network downtime incident to its recent woes. SOL extends its decline for the fifth day in a row. Solana users were unable to conduct transactions on the network in the last few hours of press time. Preliminary reports revealed that this was a network-wide problem reportedly caused by a long-forking event. […]
However, an extended downside is possible considering that the weekly pullback reflects the bearish sentiment in the overall crypto market.The recent downtime incident may have also impacted SOL demand on the derivatives market. Both the Binance and DYDX funding rates dropped to their lowest levels in the last 24 hours. Thus, confirming that the network downtime triggered a demand shock.
The same derivatives metrics did bounce back slightly after the dip. This confirms a bit of recovery back to pre-downtime levels.On the other hand, Solana’s development activity bounced slightly in the last 24 hours. This was a promising sign- developers were working towards restoring the network. The weighted sentiment remained within the lower range although slightly higher than its weekly low.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solana: NFT ecosystem declines while SOL struggles, more insideSolana ranked second on the list of blockchain by total NFT sales volume. SOL’s reaction was negative and so was its performance on the metrics front. Solana’s [SOL] Non-fungible Token [NFT] ecosystem flashed concerning signals over the last week as it registered a decline. According to Dune Analytics, Solana NFT Marketplace’s daily active users have […]
Read more »
Premiers Staying Tight Lipped Regarding Future of Controversial Churchill Falls Contract TalksPremier Andrew Furey and Quebec Premier Francois Legault have wrapped up preliminary discussions around the fu...
Read more »
Polygon makes major announcements; here is what you need to knowPolygon partners with Eclipse to launch its new Sealevel Virtual Machine. A new upgrade for Polygon zkEVM will be released with added integrations. Polygon [MATIC] recently made a major announcement that will likely increase the network’s capabilities and offerings. The blockchain has partnered with Eclipse to launch a new software that will allow Solana apps […]
Read more »
Turkey starts work to build homes in 2 earthquake-hit townsTurkish authorities on Friday said preliminary work has started to build housing for people left homeless by a massive earthquake.
Read more »
Solana: NFT ecosystem declines while SOL struggles, more insideSolana ranked second on the list of blockchain by total NFT sales volume. SOL’s reaction was negative and so was its performance on the metrics front. Solana’s [SOL] Non-fungible Token [NFT] ecosystem flashed concerning signals over the last week as it registered a decline. According to Dune Analytics, Solana NFT Marketplace’s daily active users have […]
Read more »
NFTs worth millions to be sold by 3AC liquidator, details insideOther Three Arrows Capital liquidator Teneo plans to sell NFTs worth millions seized from the defunct crypto hedge fund. The NFTs do not include any artworks from the portfolio of Starry Night Capital. Teneo, the court-appointed restructuring firm to liquidate Three Arrows Capital (3AC), has revealed its plans to sell off a considerable portion of […]
Read more »