🚀 SOL Price Has Hardly Budged Despite Solana’s Falling

On Tuesday, Solana was completely inaccessible for five hours, leaving more than $1.6 billion in cryptocurrency locked in the network's DeFi applications in limbo. 

The price of $SOL simultaneously fell by 3% amid the outage, but quickly recovered before the network restarted.

According to the Solana Labs portal, Tuesday's outage was the sixth major failure of Solana. Since September 2021, when the network saw much less activity and a significantly lower total blocked value, Solana has not had a single year without a major outage. 

This week's outage seems to have had the second-largest impact on the price of the six. 
No official conclusion has been published yet, but it seems that the cause was a bug in some code that tells native apps how to work. 

Reports indicate that the developers had previously discovered and fixed the bug on a test network of the chain. Production protocols mean that the fix has not yet been deployed to the main network.

According to CoinMarketCap, Solana price today is $95.40 USD. Solana is up 1.28% in the last 24 hours.

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