A failure in the Solana blockchain led to a drop in the value of the native token of the SOL network by 4%, Coindesk reports.
At approximately 12:50 Moscow time, the network stopped processing new blocks of transactions. According to the developers, who published details of the incident, the failure occurred due to an overload of one of the Solana blockchain subnets. They called on the validators who ensure the network operates to update the software to the new version.
SOL/USDT chart on the Binance exchange. Source: TradingView
As Coindesk experts noted, the drop in the value of the Solana token is due to a network failure, as a result of which the processing of new blocks was suspended for more than five hours. The asset price dropped to $93.
