🚨Solana Investor Sentiment Remains Battered With $3M Outflows: CoinShares
— CryptoPotato Official (@Crypto_Potato) February 26, 2024
📰 Solana is finding it difficult to regain the trust of investors following a network outage as recorded outflows of $3 million.
Read more: https://t.co/ybuJMPL6QI
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Crypto Solana: $3 million fund outflows raise concerns
Tue 27 Feb 2024 ▪
3
min of reading ▪ by
Getting informed
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The cryptocurrency Solana has experienced a tumultuous period lately, swinging between promising highs and concerning lows. This article looks at the challenges Solana is facing, the impact on crypto investors, and the future outlook.
The crypto platform Solana records significant outflows
The crypto Solana network suffered a 5-hour outage on February 6, 2024. This was caused by a bug, which resulted in an infinite loop in cryptocurrency transactions. This incident, of course, shook the confidence of crypto investors. Evidence: the crypto platform has recorded significant outflows.
According to CoinShares, Solana is the only altcoin to have seen outflows last week. These outflows reached $3 million. This figure is almost double the previous week, underlining the concerns of cryptocurrency investors.
Analysis of SOL’s price and outlook
The price of the crypto Solana (SOL) is currently at $110.85. Despite the challenges, this cryptocurrency retains undeniable potential thanks to its hybrid technology combining Proof-of-History (PoH) and Proof-of-Stake (PoS). It ensures exceptional scalability as well as fast processing times.
That’s not all! The price of Solana crypto has also started a new rally. SOL has indeed gained 10% and was able to exceed the resistance level of $108. This cryptocurrency is now aiming to break through the resistance bar of $144. A path that might lead it directly to a peak of $118.
Several cryptography experts are even more optimistic. They predict a price of $250 this year for Solana crypto.
True, the confidence of crypto investors is fragile. Also, the platform Solana will have to face many challenges to regain its place in the market. But Solana’s innovative technology remains a major asset that allows it to overcome obstacles. To be continued…
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Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n'ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c'est un univers qui m'intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.