• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Solana

Solana Trades Up 15.7%, But Network Issues Raise Concerns

Julia Arvelaiz by Julia Arvelaiz
1 year ago
in Solana
Reading Time: 3 mins read
Advertisement

Solana (SOL) traded 15.7% up and lead gains earlier as the crypto market started to see the green zone, recovering from the total cap value dropping to $2,1 trillion, now at $2,2 trillion, a 5% increase in 24 hours.

As several altcoins from the top 100 savor the upswing, it’s a polarized day for Solana’s popularity as the network saw major congestion issues that might put down price expectations for 2022.

A few days ago SOL saw a two-month low of around $150, but losses are in reverse in the past 24 hours. The digital coin went up as much as $188, a 15.7% daily growth. Solana’s market cap value grew from  $51.17 billion to $56.76 billion during the period (adding $5.59 billion).

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
Solana
Solana is trading up at $182 in the daily chart | Source: SOLUSD on TradingView.com

In terms of competition for the top 5 cryptocurrencies by market cap, Solana took the win while Ethereum surged around 4%. Cardano climbed 3% and Avalanche, on the other hand, is also seeing growth surging 15% in 24 hours after announcing native support for USD Coin (USDC), swinging up above the $100 mark.

Related Reading | Solana Could Become The Next Bitcoin, According To FTX’s Sam Bankman-Fried

 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Solana, The Cool Kid On The Block?

Solana
Taken from Twitter

As Solana grows in popularity surrounded by mainstream projects, crypto users at CoinMarketCap shared positive estimates of the median price for the end of the year: 20,490 people think SOL will be closing the year trading around $185. However, the community is predicting a downside starting 2022 to $171, then lower to $168 by the end of February. What are they seeing?

Solana

The cool kid from the block is having trouble at home and the followers are concerned. The network experienced more technical troubles with a large amount of failing transactions: over 2000 per second, more than 60% of the total volume, some have speculated.Solana

Several investors and developers have expressed skepticism and frustration on social media. Some see the glitchy scenario as a sign to step back as it does not provide trust and also fails to meet with the blockchain’s promise of high efficiency.

Related Reading | How Solana Was Brought Down By This dApp Launch

Solana has more troubled moments to mention. The first one was back in September with a 17-hour network outage. Then, during this month alone, on December 9th the network reportedly suffered a distributed denial-of-service (DDoS) attack which also resulted in delayed transactions.

Clarity wasn’t the top priority at the time. The first tweet to mention the DDoS attack was deleted, then the infrastructure firm GenesysGo reported the issue but claimed it was due to “growing pains”. And on December 13th, a Solana-based NFT debut (SolChicks) announced that “CHICKS HAVE TAKEN DOWN SOLANA.”:

We apologize for the inconvenience of this delay but tens of thousands of people are trying to buy $CHICKS and the Raydium server has crashed. It appears SolScan is also not loading our contract address right now either.

However, Solana’s price has not seen investors fear since the last failure of transactions happened –at least not beyond the low prediction from the CoinMarketCap community. Is the hype stronger than the issues?

The rise of Solana has seen big investors as backers (like Sam Bankman-Fried, Andreessen Horowitz, and Polychain) and a large number of projects with big names, especially in the gaming and NFT sectors. If the blockchain’s transactions are not fast enough sometimes, their marketing is.

For example, basketball giant Michael Jordan just announced a platform for athletes called HEIR, which is based on Solana. This mainstream event was believed to carry SOL’s price up. Will popularity be enough for the future of the blockchain?

Tags: AVAXcrypto marketethereumSolSolana blockchain
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Julia Arvelaiz

Julia Arvelaiz

Related Posts

Solana

Solana Can Depreciate Further If It Doesn’t Breach Its Immediate Target

1 day ago
Solana

SOL Surges Nearly 7% As Team Preaches A Better Future For Solana

3 days ago
Solana SOL

Solana (SOL) Is The Biggest Opportunity This Cycle, Venture Capitalist Claims

5 days ago
Solana

What’s Next For Solana As Bulls Face Rejection At $25?

5 days ago
Solana

Why This Analyst Thinks Traders Should Not Be Bearish On Solana

2 weeks ago
Solana

Solana Keeps Positive Radiance But Bears Could Dampen The Mood At This Level

2 weeks ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Presenting LYOPAY Pro – An Innovative Payment App Connecting Traditional Finance with Digital Currency

February 5, 2023

Dogecoin (DOGE) And Fantom (FTM) Make Appreciable Profits As Orbeon Protocol (ORBN) Moves Closer To 700%

February 5, 2023

Monero (XMR) and Dogecoin (DOGE) are Popular Twitter Crypto Recommendations. Here’s Why Savvy Investors Choose Snowfall Protocol (SNW) Instead

February 5, 2023

Price Predictions for Polygon (MATIC), Uniswap (UNI), and Snowfall Protocol (SNW) for 2023 – 2030

February 5, 2023

Fantom And Decentraland Explode As Big Eyes Coin Raises $21M In Presale

February 4, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.