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Solana’s devnet outage – Why SOL’s 11% rally could come to a halt

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Solana's devnet is now down, disrupting its operations. How will Solana be affected by this in the long run?

had one of the most positive runs in the crypto-sector over the last few months. Despite this growth, however, some people remain skeptical of Solana due to theThe same was confirmed by Solana Devnet’s X account. According to the same, engineering teams are now working to resolve an issue caused on the devnet. Here, it’s worth stating that even though the devnet does not impact the Solana testnet or mainnet, the downtime could still affect how people perceive Solana.

This indicated that the number of negative comments around Solana on social media outnumbered the positive ones. If this negative sentiment persists in the future, it could derail the growth of the Solana network and the SOL token.Despite these negative sentiments, however, Solana is doing relatively well in the DeFi sector. In Q1 2024, Solana was the primary driver behind the increase in active addresses in the DeFi space, accounting for 45% of the total DeFi activity by the end of the quarter.

 

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