Solana’s Network Outage Sparked a Crypto Crash
Solana is an up-and-coming blockchain that launched in April 2020.
It offers an incredible 59,000 transactions per second (Ethereum can only do 17 per second), and it costs virtually nothing to transact.
The Solana token skyrocketed from under $2 at the beginning of the year to over $200 at the beginning of September … but then the Solana network had a huge crisis.
In today’s Market Insights video, Steve Fernandez and I discuss what happened with Solana this week and what it means for the crypto markets going forward.
(If you’d prefer to read a transcript, click here.)
Editor, Strategic Fortunes
My career on Wall Street started while I was in college. I spent a summer interning for Merrill Lynch in the middle of the ‘90s bull market. I was fascinated with trading, and as a result, after college, I joined Salomon Brothers in the famed mortgage bond trading department. Later, I spent time at Citigroup working with credit derivatives. Eventually, I needed to walk away from the excess of Wall Street. That’s when I joined Banyan Hill in 2017. Now I help readers get ahead of the market and build their retirements.