Solana logs back in after a five-hour outage, SOL rebounds

Solana’s network has come back online after an outage on Tuesday. The blockchain’s native token, SOL, briefly dipped but has since recovered. 

“The outage began at approximately 09:53 UTC, lasting 5 hours. Core contributors are working on a root cause report, which will be made available once complete,” the Solana Foundation said on X (formerly Twitter). 

Solana is a popular blockchain for decentralized finance applications and non-fungible tokens (NFTs). But since the network launched in March 2020, it has faced technical challenges due to frequent network outages.

However, the blockchain has been running without interruptions for almost a year. The blockchain’s last outage occurred last April, when it was down for almost two days, according to CoinDesk. 

Solana is the second-most popular blockchain for NFTs with recorded US$4.87 billion in historic sales volume, behind Ethereum’s US$42.32 billion, CryptoSlam data shows. 

SOL fell to as low as US$93.36 in the past 24 hours. It traded at US$95.10, as of noon ET. 

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