Has the Solana ecosystem recovered from the recent setbacks

Has the Solana ecosystem recovered from the recent setbacks

February 10, 2024

Edited By: Ann Maria Shibu

Solana’s recent downtime raised doubts, but its resilient ecosystem surpassed TVL records.

Despite sentiment decline, SOL’s price grew.

The recent downtime on the Solana [SOL] network raised concerns among skeptics regarding the network’s future and its ecosystem.

Solana marches on

However, amidst these doubts, the Solana ecosystem displayed resilience and appeared to be thriving. Recent data indicated that Solana surpassed its previous total value locked (TVL) record from the 1st of January.

As of the latest update, the TVL, measured in both USD and SOL, reached its peak since November 2022, signaling a robust performance despite the recent challenges.

This increase in TVL not only reflects positively on the network’s financial strength but also positions Solana for further development and expansion.

Looking at the socials

Despite the growth in TVL, the overall sentiment around Solana continued to decline. This suggested that on the social front, there was still negative chatter around the network.

This negative sentiment can have detrimental effects on Solana’s prospects. It may prompt investors to approach the platform with caution, potentially resulting in decreased investment inflow and the withdrawal of existing funds.