Solana’s (SOL) price climbed over 128% since the start of 2023.

The protocol investigates the outage’s root cause.

While the “Solana Mainnet Beta outage” root cause is still unknown and under investigation, its native token SOL price surged over 8.6% from $21.71 to $23.46. At the time of writing, Solana traded at $22.82 with a market cap of $8 billion. Also, the so-called “Ethereum Killer” soared around 128% since the start of 2023. 

Solana (SOL) Price Chart (Source: CoinGecko)

The layer-1 blockchain Solana encountered a slowdown in block production on 25th Feb 2023 after an upgrade in its validator software. Also, the protocol crashed again on Saturday and froze transactions. However, after two rounds of successful restart, the developers sorted out the bug issues, which let the blockchain’s block production performance slow down. 

Also, Solana’s weekend crash and deep freeze have not affected its crypto token price significantly. But the SOL price decreased from $24 to $21 on 26th Feb. Early in the morning the leading altcoin urged around 4%. Solana Foundation stated in its blog post that the protocol actively investigates the outage reason. 

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Filed under: Bitcoin - @ February 27, 2023 11:02 am