An updated version has already been released with instructions from validators on how to install it. Based on Solana’s consensus mechanism, at least 80% of validators are required to get things going.
Looks like of the validators, about 30% of a required 80% supermajority are online and waiting. This episode sucks, but truly incredible to watch the validators rally, and it’s *all for us*. Saying thanks to @ShinobiSystems @GenesysGo @CertusOne @cryptomeleabs + countless others
— ashpool (@ashpoolxbt) September 14, 2021
- Solana Crash: Will Prices Recover?
- Why is solana dropping
- Bottom line
- Why is solana dropping today
- Why is solana dropping so much
- Now what
- Why is solana dropping reddit
- TVL and decreasing the number of active addresses
- Why is solana dropping now
- Why is solana dropping right now
- Why is solana dropping november 2021
Was Solana hacked?
- Why is solana price dropping
- So what
- Why is solana falling
What comes next?
- Similar Posts:
Solana Crash: Will Prices Recover?
Time will tell how the price of Solana reacts as the project gets its network back online.
Why is solana dropping
As mentioned earlier, BTC and ETH are down only single-digits today. Over the past month, they’ve both retained more value than Solana.
Solana’s stumbles also dim its prospect of disrupting Ethereum.
Developers may want to reconsider building their decentralized finance (DeFi) products and non-fungible tokens (NFTs) on Solana in light of these outages.
Long-term investors should consider these factors as they make allocations during this bear market.
Solana is plunging along with the rest of the global capital market. It’s down 11% today and 60% over the past month. However, this performance has been partially driven by network-related issues.
Why is solana dropping today
Developers across the Solana ecosystem worked together to address these issues and improve the resilience of the Solana network.
The incident drove Solana price to freefall, and the altcoin has posted over 37% losses in the past 30 days.
@Trader_XO, a pseudonymous crypto analyst, has predicted a bounce in Solana price if it drops to $120.
$120 looks good for a swing trade (not looking to buy and hold spot at these levels).
Expecting a decent reaction around there if price tags it. pic.twitter.com/un4cKwYrih
— Trader XO (@Trader_XO) January 6, 2022
@AltcoinSherpa, a crypto analyst and trader, evaluated the Solana price trend and predicted a drop to the $140 level. The analyst believes that the Bitcoin pullback fueled the Solana price drop since altcoins have historically reacted negatively.
Why is solana dropping so much
Without a catalyst to the upside, current sentiment is likely to keep prices rangebound, with some clear and immediate risk of a break lower.”
Solana has struggled more than Bitcoin and Ethereum recently and is down close to 15% over the past week. Altcoins tend to be more volatile than Bitcoin and Ethereum, but Solana has also been dealing with network issues that have caused five outages this year alone.
The most recent outage on Solana’s network occurred on June 1, in which the network stopped generating new blocks for roughly 4.5 hours. Developers have since corrected the issue.
I am overall bullish on Bitcoin and Ethereum and even think altcoins like Solana that have superior technical capabilities could be good long-term investments.
Why is solana dropping reddit
The indicator fell to its lowest level since 8 September. Of note, Solana’s DApp deposits fell by 44% in three months.
Terra (LUNA), another DApp scaling solution, hit $ 16 billion, a 60% increase in TVL.
Even the $ 10 million raised in early January by Solana Hubble Protocol’s decentralized finance (DeFi) app wasn’t enough to win back investor confidence. Cryptocurrency giants like Three Arrows, Digital Currency Group, Delphi Digital, and Crypto.com Capital have approved the interest-free lending platform and cryptocurrency-backed stablecoin.
TVL and decreasing the number of active addresses
The blocked added value is no longer the first figure that reflects the solid foundations of the network.
Because the 66% price correction means that factors other than the TVL reduction also played a role.
Why is solana dropping now
That’s one of the reasons why Solana dropped 11% today.
However, another reason for the plunge is intrinsic. The Solana network suffered a devastating outage last week.
This wasn’t the first time the Solana network faced technical issues. In fact, there have been several similar outages in recent months.
These difficulties have undermined confidence in Solana’s ability to scale and service its growing base of users.
Why is solana dropping right now
By September, the Fed is expected to be reducing its bond holdings by $95 billion per month.
Unless it’s been fully priced in, all of this could continue to put pressure on risky assets like Bitcoin and other cryptocurrencies, because the yield on safer assets will increase, and there could be fewer funds flowing into riskier assets.
In a research note this morning, analysts at Morgan Stanley wrote that the weakness they are seeing in the broader crypto market could be the “crypto equivalent of quantitative tightening, as total stablecoin market cap falls, and liquidity on decentralized exchanges and leverage on lending platforms falls even faster.”
“This market is languishing,” Adam Farthing and Collin Howe of the crypto firm B2C2 wrote in a research note.
Why is solana dropping november 2021
Was Solana hacked?
No. The downtime on the Solana network is reportedly the result of bots set up by users to claim tokens in an initial decentralized exchange offering (IDO) on Solana-based exchange, Raydium. The increase in transactions ultimately resulted in the network peaking at a 400,000 transaction per second (TPS) capacity.
1/ Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS.
These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking.
— Solana Status (@SolanaStatus) September 14, 2021
After attempts to stabilize the network failed, validators opted to restart the blockchain to its original state before the incident.
Why is solana price dropping
After rising over the weekend, the crypto sector relinquished those gains as volatility and a lack of direction linger in the market.
Over the last 24 hours, the price of the world’s largest cryptocurrency, Bitcoin(BTC1.30%), had declined by 6% as of 9:30 a.m. ET today. The price of the world’s second-largest cryptocurrency, Ethereum(ETH2.01%), traded more than 8% lower, while the price of Solana(SOL1.66%) had fallen more than 12%.
Yesterday, analysts warned that they didn’t see the price of Bitcoin reaching a bottom that day and that more selling could be ahead, which seems to have gotten the attention of the market today.
Why is solana falling
What comes next?
The volatility of crypotoassets is not new. Over the past 12 years, Bitcoin has suffered numerous double-digit drawdowns.
In fact, it lost roughly 30% of its value multiple times in 2021 alone. Smaller cryptos like Solana face even more volatility, which is why the correction in SOL is so much deeper today.
However, the network outages are far more concerning. It could indicate a fundamental flaw in the network’s design. It also makes the network seem less reliable and secure for new adopters. By comparison, Ethereum has never had an outage. Same for Bitcoin.
Although legacy cryptoassets like BTC and ETH have some flaws (high fees, slower transactions, etc.) their framework is time-tested. These assets are also much less volatile due to the size of their user bases.
- Life-Changing Price Prediction! – ETHEREUM TODAY Part 2 – ETHEREUM TECHNICAL ANALYSIS
- Обзор криптовалют с огромным потенциалом! Epik Prime,FINE,AIDI FINANS. Как купить любую криптовалюту
- InvokersNFT, Dapper Ducks, SolBouncers, Desolates | solana NFT NEWS #3
- Metaverse Upcoming 2022 1000x Project – LEGENDS OF ATLANTIS Full Explained
- Myuta ! Myuta NFT :- Watch for full Details ! solana ! solana nft ! opensea ! solana crypto