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The SOL digital asset is the most growing in the top 15 cryptocurrencies by capitalization.
In the first half of January 25, the Solana digital asset SOL shows an 8% rise to $92.19, which is today the largest increase among the top 15 cryptocurrencies by capitalization.
Earlier, at the end of last week, the Solana blockchain experienced difficulties with the speed of transactions. One of explanations, which is given by the project team, is the emergence of more transactions carried out by automatic trading bots that work on arbitrage operations. In addition, the total number of people willing to buy and sell SOL was very high, given the highly volatile situation in the cryptocurrency market, as well as low commissions for each transaction through Solana.
The Solana team has already rolled out an optional 1.8.14 update to fix the issues. Technical difficulties with Solana also arose a little earlier, on January 7, as experts wrote about.
Sqlana down again. The downtime seems to be getting worse
Keeping web2 databases online is hard!$SOL = $EOS v2 pic.twitter.com/L4VXr6VJsu
— Evan Van Ness 🐬 (@evan_van_ness) January 6, 2022
This is happening as various blockchains try to win over users by positioning themselves as more scalable and less costly in terms of fees than Ethereum. Against this background, those who are disillusioned with Solana also appear. So, Mark Jeffery, head of Boolean Fund, stated that “there is now competition between Ethereum, BSC, Fantom, Avalanche and Terra.”
Another day, another 48 hour #Solana outage.
This is like the sixth time this has happened in 3 months.
I have zero faith in it now. It is the new EOS.
The fight is now between ETH, BSC, Fantom, Avalanche and Terra.
– Mark Jeffrey ⚡️🚀 (@markjeffrey) January 23, 2022
Despite today’s gains, SOL is worth 64.8% less than on November 7, 2021, when the cryptocurrency hit an all-time high of $259.96. In terms of capitalization, SOL overtakes the digital asset of the Cardano (ADA) project by $4 billion. During the day, ADA rises in price by 2.5%, to $1.04. It is noteworthy that in mid-January it was fixedthat the daily number of transactions through the Cardano blockchain has surpassed that of the Ethereum blockchain.
#Solana #recovers #technical #issues