Solana Enters Consolidation Phase After Impressive Recovery 📉
After a remarkable rebound in the market, Solana (SOL) has now entered a phase of consolidation, resulting in reduced volatility. This period of stability allows the bulls to take a breather after significant gains. According to Coingecko, SOL has experienced a slight 2% decline in the past 24 hours but continues to show a positive trend with over 9% gains in the 30-day timeframe.
Patching a Major Vulnerability Quietly 🛡️
Last Thursday, the Solana Foundation identified a major vulnerability, prompting them to swiftly release a patch to address the issue. Reports from Solana validator Laine indicate that members of the Solana Foundation alerted them to the vulnerability, providing details of an upcoming security patch, including the date and incident identifier.
Anatomy of a patch
In the past few hours a critical security vulnerability and patch were disclosed on Solana, this public disclosure occurred after a supermajority of the stake had already been patched to protect the network. Let’s look at how this process unfolded and how 70% of…
— Laine
The current focus for SOL bulls is on stabilizing within the $147.93 and $159.83 price range, a critical juncture where market sentiment will play a significant role. Achieving control over this price range could potentially elevate SOL to a higher price floor, potentially reaching $186 in the near future.
It is advisable for investors and traders to closely monitor Solana’s communication channels to gauge the ongoing bullish sentiment towards the platform.
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