Solana fell in 48h and users were liquid! SOL is down 65.6% from all-time highs

Solana's main channel was shut down last Friday and the shutdown continued for 48 hours. November is always high.

In response, a team of experts posted the following reports on Solana's website on January 22. The Solana mainnet beta is facing major network issues. Events of the past 24 hours have shown that these systems need to be upgraded to meet the needs of users to adapt to increasingly difficult and current business on the web.

Solana plans to upgrade the network in the next two to three months. The development team writes: This future release is designed to improve network health and further improvements will be unveiled in the next 8-12 weeks. Many of these features are currently being tested on the testnet.

As a legit site, the Solana blockchain was fully functional, and according to early research, several changes were made to the network, making the system unstable. Sollen, the Solana ecosystem lending protocol, pointed out in a morning post on the 24th (24th) that robotic arbitrage will look like these changes.

DeFi users are complaining about being forced to remove their devices.

However, Solana's shutdown was combined with the cryptocurrency market crash, preventing many DeFi users from trading during the shutdown. This is a huge loss for many users.

Analysts from cryptocurrency research group MICAResearch said the Solana network has crashed multiple times since the start of this month. MUR: Solana is not as stable as the Ethereum killer. However, due to the increase in the number of DeFi and NFT users over the past few months, it has been predicted that Solana's network load will continue to increase and the physical security will also deteriorate. A new generation of EOS called Solana.

Therefore, analysts pointed out that Ethereum is still the most stable blockchain platform at present, and it will be some time before the main event, called Ethereum killer, proves that its PoS system can accommodate multiple users. Falsely trading, Solana promised to fix downtime and improve reliability, but was unable to pay closed users within 48 hours of the downtime.

Solana's share of business decreased.

The Solana blockchain has failed several times in recent months, much to the chagrin of investors and traders. Mark Jeffery, crypto investor and founder of the Boolean Fund, tweeted that Solana had been suspended for 48 hours. Seems to be the 6th (time out) in the last 3 months. I no longer have confidence now. It's just a new generation of EOS. DeFi Battle currently only competes with Ethereum, Binance Smart Chain (BSC), Fantom, Avalanche, and Terra.

In the aftermath of the ongoing crash, the question is whether Solana, known as the Ethereum Killer, will die before his target. According to data from DeFiLlama, Fantom is now the second largest DeFi Total Cost Lock (TVL) network after Ethereum, with Solana falling to sixth.