- Solana had its third outage for the past three months.
- SOL sank under $40 in the pasts day after four hours of no transactions.
- Solana still a top pick for NFT mints and a growing selection of games.
The Solana blockchain had its third major outage in 90 days lasting for more than an hour on June 1. By this point, the problem of overwhelmed nodes is becoming more regular. This time, the node operators coordinated faster to restart the network, but the risk remains. Whenever Solana is overwhelmed by transactions, nodes cannot achieve consensus and block production stalls. The latest outage lasted for four hours.
In the past year, the Solana network crashed on average once a month. For now, Solana is still selected by many decentralized projects, managing to overcome the problem. Nodes also manage to coordinate again every time, without accruing losses.
Solana has a separate network of games, among them the recently launched Alpha League Racing. Other games include Gameta, LadderCaster and DeFi Land.
The network outage was relatively short, and games may not be affected, as not all require real-time transactions. Solana is also one of the blockchains that were adopted as native to OpenSea for NFT listings.
SOL, the token of the Solana network, is sometimes used for in-game rewards. In the past day, the network outage caused SOL to lose 12.72% of its price, down to $39.72. SOL keeps distancing from its peak price above $250 achieved briefly in 2021.
Solana Still Selected by NFT Games
The Solana network and SOL are especially suitable for NFT mints. The availability of OpenSea listing may mean those assets have a higher chance at discovering liquidity. Minting with SOL allows for much lower fees compared to ETH-based minting events. Thus, Solana is one of the networks to carry games that try the NFT-first approach.
Solana also carries $3.78B in locked value, down from 14B at peak valuations. Transaction counts are also holding up in the past months, as Solana remains one of the leading L1 solutions.
Solana, like Avalanche, also managed to survive the effects of the Terra LFG crash. The network remains attractive to games for having a well-developed DEX infrastructure and active NFT communities and marketplaces.
