Solana's recent network outages, a DDoS attack and derivatives metrics are not the primary factors behind $SOL's 60% correction. noshitcoins explains what's really behind the current price drop.
The past couple of months have not been kind to cryptocurrencies. The sector's aggregate market capitalization plunged 50% from a Nov. 10 peak at $2.87 trillion to the current $1.44 trillion. Solana's downfall has been even more brutal, presently trading at $88 after a 66% correction since its $260 all-time-high.
in the span of a few months. According to the project's developers, a sudden spike in the number of computing transactions caused network congestion, which crippled the network. Sergey Zhdanov, chief operating officer of crypto exchange EXMO UK, also said DDoS attacks and similar outages"don't" and should be disregarded. Zhdanov makes a point comparing Ethereum network fees surpassing $50 as a similar hiccup, but not significant enough to cause investors to abandon it for good.
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