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In an exciting development, Phantom, a San Fransisco-based cryptocurrency wallet used in the Solana ecosystem, has witnessed a significant rise in its user base over the past year.
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Solana’s SOL has surged past Binance-backed BNB in the last 24 hours, securing its position as the fourth-largest digital asset by market capitalization.
Data from CryptoSlate showed that SOL’s market cap is wavering around $50 billion, marking its first foray past this threshold since December.
Crypto analyst Jacob recently gave his thoughts on what to expect from the Ethereum, Solana, and Chainlink tokens. Based on his analysis, there could be significant price movements from these major altcoins soon enough.
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Solana has now recovered back above $100 after the FUD due to the outage earlier, leading to a bottom formation for the cryptocurrency.
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On Tuesday, the Solana blockchain encountered a significant setback, experiencing an outage that halted block production for four hours and 46 minutes.
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Solana validators said they would restart the blockchain network’s Mainnet-Beta cluster using version 1.17.20 after an outage today, Feb. 6.
Earlier today, the Solana status page confirmed an outage on its mainnet.