The post Solana Robust Market Crash Brings Major Banking Giants Down appeared on BitcoinEthereumNews.com.

Solana remains robust during the recent market crash, outperforming major TradFi platforms despite its history of outages. TradFi platforms face downtime during a major market crash but Solana network is resilient despite past issues.  Solana had to battle with wild swings in transactions before.  The recent market crash, which saw Bitcoin drop below $50,000, has created a frenzy of activity in both crypto markets and traditional financial (tradFi) institutions.  Times like these test the reliability of both blockchain networks and traditional web infrastructure. This time, blockchain networks fared better. Despite experiencing its share of technical issues in the past, with several network-level outages in the past years, Solana showed robust performance during the recent crash. At the same time, major banks like Schwab and Fidelity saw their services crash.  Market Crash Disrupts TradFi  Major financial panic sent the markets in disarray. On Monday, August 5, a major sell-off in Japan saw the Nikkei index drop 20% from its all-time high on July 11. The crypto market reacted similarly, shedding 18% of its overall market cap, with Bitcoin dropping to $50,000.  The drop in asset prices also resulted in a surge in trading activity, both in crypto and stock markets, as traders scrambled to cover their positions or to sell before others did.  The influx of activity proved too much for major TradFi platforms like Charles Schwab, Fidelity Investments, Citi, Robinhood, and others, which all experienced downtime in their online services.  🩸🇺🇸BREAKING: At least SIX trading platforms are down: • Citi• Fidelity• E-Trade • Vanguard• TD Ameritrade• Charles Schwab pic.twitter.com/FESJrgfeuf — Radar🚨 (@RadarHits) August 5, 2024 At the same time, major blockchain networks, including Solana, remained robust despite the sudden increase in trading volume. This is especially notable because Solana experienced several outages in the past.  Solana Stays Robust, Despite Past…

---

Filed under: News - @ August 7, 2024 4:24 pm