Monday, December 23, 2024
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Solana Network’s Transaction Processing Craters After ‘Forking Event’

According to Solana Explorer, the network was processing about 93 transactions per second near 2:00 AM east coast time, well below the network’s rate near 5000 TPS some 15 minutes prior. Such low throughput was preventing users of Solana from conducting effectively any on-chain activity, from trading to transferring assets. Source

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Solana’s Wrapped Bitcoin Price Craters, Recovers After FTX Shuts Exit Ramp

Sollet Bitcoin (soBTC), a so-called “wrapped” asset supposedly backed 1-to-1 with bitcoin, plummeted $10,000 at around 2:00 p.m. ET, according to decentralized finance protocol Raydium. It had already spent much of the day trading below its bitcoin peg on the news that FTX had filed for bankruptcy protection. Original Source

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