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Post: Solana Recovery: SOL Price Gains 1.04% After Network Outage

Solana Recovery: SOL Price Gains 1.04% After Network Outage

Key Points:

  • Solana (SOL) is recovering after a network outage on February 6.
  • SOL price has gained 1.04% in the last 24 hours.
  • Most top-cap cryptocurrencies are also showing strength in the market.
  • The total crypto market capitalization has reached $1.6 trillion.

Recovery from Network Outage:

Solana experienced a five-hour network outage on February 6, causing concerns among investors about a potential sell-off. However, SOL price has shown resilience and has recovered since then, gaining 1.04% in the last 24 hours.

Positive Market Action:

The recovery of SOL price is in line with the overall positive market action. Most top-cap cryptocurrencies are flashing green on February 7, and the total crypto market capitalization has reached $1.6 trillion.

Hot Take:

Despite the network outage, Solana’s price strength indicates that investors are not deterred and believe in the long-term potential of the project. The recovery of SOL price in tandem with the wider crypto market suggests that there is overall optimism in the market, pushing the altcoin’s price higher.

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