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Solana is struggling under US$90, but NFT sales are increasing

Solana continued to trade below US$90 at 12 p.m. HKT on Tuesday, despite Solana’s non-fungible token (NFT) secondary sales rebounding sharply, rising more than 95 percent in the past 24 hours, following a network outage over the weekend.

At press time, Solana was trading at around US$88.32, down more than 35% from around US$140 a month ago.

According to CryptoSlam data, the Okay Bears collection accounted for approximately US$6.21 million in secondary sales turnover, up more than 134 percent in the last 24 hours.

Another Solana NFT collection, Cets on Crek, witnessed a secondary sales turnover of US$690,000 in the last 24 hours. Representing, an increase of more than 330 percent.

Bots spammed the network’s NFT minting tool “Candy Machine,”. Thereby, leading the network to lose consensus and go offline for seven hours on Sunday.

Bots saturated the network with six million transactions per second, leading validators to run out of memory and fail. That’s, according to Solana’s inquiry into the outage, however there was no proof of a denial-of-service (DDoS) assault.

Solana is working on a number of solutions, including charge priority, to address the issue of network disruptions.

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