What's Happening at Solana? SOL Prices Suddenly Plunge


 The price of Solana suddenly fell on the side. After investigation, Solani was found to be in trouble. The popular layer-one platform never goes offline for a long time, but it looks like the network is down for a while.

Based on an official update from Solana's Status account early on, the “mainnet-beta” has failed, and engineers across the ecosystem are working to identify the problem.

The network was found to be down for over 30 minutes. Meanwhile, SOL prices are under pressure after this news as they are now trading at a 4% discount.

Recently Solana network core engineers identified a workaround and are in the process of designing a new version for validators to implement it, as announced by network validator mtromp.

Solana advises validator operators to prepare for network upgrades and restarts. The main validator operator of the network has received instructions to upgrade and restart version v1.17.20.

Today was Solana's first failure of 2024, ending a streak of uninterrupted operation that began exactly one year ago.