![Investors bearish on Solana [SOL] as continued outages stem momentum](https://i.headtopics.com/images/2023/2/28/cryptoamb/investors-bearish-on-solana-sol-as-continued-outag-investors-bearish-on-solana-sol-as-continued-outag-1630547111484768257.webp)
Since the outage on 25 February, Solana dropped by over 3% until press time. A Twitter user pointed out that the repeated outages could be due to a design flaw. According to a tweet by Santiment, Solana’s [SOL] social volume reached a six-month high after the chain was hit by yet another network outage recently. […]
Santiment added that disruptions like these have triggered panic selling in the past. But should SOL holders be worried?Since the outage on 25 February, Solana dropped by 3% until press time, data fromrevealed. SOL’s drag was more prominent over the last seven days, during which it declined by 11%.
A look at Santiment’s data showed that the trading volume diminished significantly, a 65% drop since the weekly peak on 20 February. The dip in trading activity could be due to declining investor sentiment, which was deep into the negative territory at the time of writing. On the other hand, the development activity rose sharply, indicating that developers were continuously polishing and upgrading network features.According to Coinglass, the number of long positions for Solana was less than short positions, implying that bulls were averse to betting on the coin. The Longs/Short Ratio steadily declined over the last 10 days.
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Despite Solana’s recent outage, root cause still unknown as SOL…Solana updated the crypto community that the reason for the previous week’s outage was still unknown. Transactions have resumed as SOL consolidates. Days after Solana [SOL] experienced another outage, the blockchain’s engineers have yet to ascertain the cause. In the early hours of 27 February, Solana put the word out that the problem that surfaced […]
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