The Solana network experienced a network outage, which was a denial-of-service attack (DoS), that lasted for over 17 hours. The network received transactions reaching 400,000 TPS, which the server, unfortunately, failed to handle. The outage took place during the launch of an initial DEX offering. The Solana(SOL) price had also a deep impact on this incident.
However, the network’s blockchain validators took the responsibility to restart the network, which cost 14 hours for the network to restart. The rare event took place in the beta version. SOL is seeing a rise in investments and acceptance, despite the odds, which we have covered in the further sections.
Solana investment products saw an investment worth $4.8 million last week. Deutsche Boerse is a German stock market operator, the firm has made announcements of listing SOL and two more coins on ETN’s. The cryptos are now tradable on its digital stock exchange, Xetra, and the Frankfurt stock exchange.
The announcement also states that all crypto ETNs (Exchange Traded Notes) tradable on Xetra are physically collateralized and listed on the market of the Frankfurt stock exchange. The investors can purchase crypto ETNs as they do with shares and ETFs, without setting up crypto wallets as they would do while buying traditional coins.
Summing up, SOL is one of the rising ALT coins in the crypto space. The Solana price at press time is $28.35, with a drop of nearly 10%. The belief of investors in altcoins despite the odds is to cherish for. Hopefully, the market sees an uptrend in altcoins and other coins follow SOL’s suit marching ahead of their market cap rankings.