The recent downtime had a significant impact on the price of Solana. Solana’s stakers have maintained their faith in the ecosystem despite the fact that the crypto community was against SOL at the time of the press release.
What is at risk?
The number of stakers at Solana decreased repeatedly over the past week following the network outage that occurred on October 1.
However, as the graph below demonstrates, the number of stakers increased from 38 thousand at press time to 572 thousand.
This could be because Solana’s Nakamoto Coefficient has increased. The minimum number of nodes (validators) that can halt consensus is known as the Nakamoto Coefficient.
The Nakamoto Coefficient of Solana increased to 31 from 30.According to the staking pool SolBlaze, this indicates that Solana is moving toward a more robust and decentralized network.
The rise in staker revenue could be another benefit for the Solana network. The graph below shows that stakers’ revenue for the altcoin increased over the past 30 days.
Stakers had a lot of reasons to stick with Solana, but crypto investors and traders weren’t happy with SOL.
Solana’s weighted sentiment decreased over the past few weeks, indicating that the crypto community was not pleased with SOL’s recent price movement.
However, there were not many changes in Solana’s social volume over the past month.
In the long run, Solana holders may suffer as a result of the negative sentiment surrounding SOL and the lack of growth in social volume.
The team at Solana went out and collaborated with other upcoming Web3 projects despite receiving a lot of criticism from the crypto community over the past few days.
Web3 social protocol Orbis announced on October 6 that they will collaborate with Solana on their Web Apps and SDKs.
It is uncertain whether Solana’s growing number of collaborations and stakeholder interest will be sufficient to revive the SOL.
However, Solana’s situation appeared to be dire at the time of publication, with the stock trading at $33.23 and having lost 2.19 percent in the past 24 hours.