Forex Analysis & Reviews: 25.01.2022 - Solana suffers network...

25.01.2022 05:37 AM

Solana suffers network instability

Solana, one of the largest blockchain networks, was hit by instability during a tough week for cryptocurrencies.

According to a notice on the Solana website dated January 22, the issue experienced by validators that use their computing power to help verify the network was caused by excessive duplicate transactions. Engineers have released version 1.8.14, which "will attempt to mitigate the worst effects of this issue," the notice said. It added that more improvements are expected to come out in the next 8 to 12 weeks, and many of those features are being "rigorously tested."

"Solana mainnet beta is experiencing high levels of network congestion. The last 24 hours have shown these systems need to be improved to meet the demands of users, and support the more complex transactions now common on the network," the notice said.

Solana's network status web page listed all its systems as fully operational as of Monday.

A tweet on an unverified account that was retweeted by Solana Labs co-founder Anatoly Yakovenko attributed the network's issues to "current market volatility," without providing further details.

On the other hand, Solana has had problems before. In September, for example, it suffered a 17-hour outage sparked by what it called "resource exhaustion."

Solana's troubles came amid a broad pullback in tokens from Bitcoin and Ether to Polkadot and Solana itself, which has plummeted more than 30% over the past seven days, according to pricing from CoinGecko.

Overall, global crypto markets has lost about $1 trillion in market value. Bitcoin has shed almost 50% from its record high in November.

According to Emin Gun Sirer, CEO of Ava Labs and the founder of Avalanche, the smaller Avalanche blockchain has so far held up well under the recent stress. "Chain performance was solid throughout," he said.

Cardano is also overcoming problems well. However, don't get your hopes up.

There was a large amount of information in my articles that cryptocurrencies would be in demand until the Fed took more serious action. However, it also came as a surprise to me how quickly the market started shrinking after the first warning shot. Is it possible that the crypto market is in a panic? After all, interest rates are scheduled to rise in March. So why are we facing cuts right now?

Apparently, big crypto investors are withdrawing their assets from the sector in order to use them to complete mergers or plug other holes in their budgets caused by the broad decline in indices over the last week.

However, the question that worries me the most is whether the size of the crypto market will be enough to plug all the holes of the big investors.

你今天已经点赞上这篇文章了

*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。

If you have any content questions, please contact editorial-board@instaforex.com

Crypto-currencies

Egor Danilov,
Analytical expert of InstaForex
© 2007-2025

该作者的更多文章

电子邮件订阅

EURUSD

Euro vs US Dollar

选择时间框架

分钟

小时

天

周

开始交易

通过InstaForex赚取加密货币汇率变动的收益。

下载MetaTrader 4并开启您的第一笔交易。

推荐文章

特朗普邁向加密貨幣市場的又一步

4月11日加密貨幣市場交易建議

2025年4月11日星期五，波卡加密貨幣日內價格走勢的技術分析

2025年4月11日星期五，Uniswap加密貨幣的日內價格走勢技術分析。

4月10日加密貨幣市場交易建議

比特幣承受拋壓：反彈為何難以拯救多頭

4月9日加密貨幣市場的交易建議

又一次加密貨幣市場崩盤

4月8日加密貨幣市場交易建議

比特幣——技術分析概覽

Top analytics