Solana price rose today after a poor performance in the previous session amid a network outage, which was later resolved. According to CoinGecko, Solana was trading more than 4% at $41 in the last 24 hours, with other crypto prices also rising today.
The Solana blockchain has been back up and running for more than four hours due to a software glitch, the latest in a series of shutdowns of the network in less than a year.
The digital asset network suffered a wave of blackouts and service issues that lasted 18 hours in January, leaving frustrated traders unable to unload tokens while their portfolio values plummeted.
The network remains secure, as do all funds, solana Earlier said in a Twitter post. Although Solana’s rise to the upper echelon of crypto’s top alternatives to Bitcoin and Ethereum has been bullish, it has been disrupted in recent months.
The price of Solana’s SOL token fell for the third day on Thursday, dropping to $38.67 and underperforming most other major tokens, later backing out and back in the past 24 hours.
Solana is a highly functional open-source project that banks on the permissionless nature of blockchain technology to provide decentralized finance (DeFi) solutions. solana top 10 cryptocurrency According to CoinGecko, the asset, however, is down sharply from its all-time high of $259.96 in November, 2021.
Solana is a general-purpose blockchain similar to Ethereum. It has a different technology underlying it as developers write applications using Rust instead of Solidity or Viper. According to CoinGecko, end-user applications in the Solana ecosystem include decentralized finance (DeFi), non-fungible tokens (NFTs), markets, games, e-commerce, and more.
(with inputs from agencies)