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SOL Price Dips below $94 after Solana Network Outage
Update: The Solana network is back online after a 5-hour outage.
Solana (SOL) suffered the first 2024 network outage in the early New York trading session on 6 February. The blackout on its mainnet network, still in beta, started at 10.22 UTC and significantly affected leveraged traders and other users.
The blockchain reported that its engineers were investigating the outage and opted for a new validator software release to address the issue that halted the cluster.
Engineers from across the ecosystem are readying a new validator software release, which includes a patch to address an issue which caused the cluster to halt. Validator operators should prepare for an upgrade and restart of the network.
— Solana Status (@SolanaStatus) February 6, 2024
At the time of writing, the network was still down amidst a call for validators to install the new software batch before restarting the network. It meant that block progressi
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