Is Solana dead? Another network outage....

Is Solana dead?

Bitboy Crypto recently uploaded a video on Solana's network outage. On February 28, 2023, Bitboy Crypto wrote:

"Did this top 20 project just get exposed for lying? The answer to that question is yes. It's no surprise... We're talking about Solana, everybody's favorite rug pull. Solana has been lying. I've been trying to tell you guys, this project is dead and people do not want to accept it."- BitBoy Crypto

Solana posted an article on its website regarding the network outage. Solana wrote:

"At approximately 05:46:16 UTC 2023-02-25, Solana Mainnet Beta suffered a significant performance degradation, eventually leading the validator community to opt for a restart of the network. The cause of this is still unknown and under active investigation. Due to the performance degradation, validator nodes automatically entered vote-only mode, a 'safe mode' designed to help the network recover in the event of data unavailability. While consensus was still running, the network was not processing any user transactions."

Solana added:

"Root cause is still unknown and under active investigation. This document will be updated as more information becomes available."

Solana -which was once a rising project and crypto-- has suffered several problems over the past two years. Solana's consistent network problems lead many to assume that the project is dead and that investors should divest from the project.

 

Below are Solana's price charts and correlation matrices:




































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