Solana outage, Bitcoin downturn, NEAR volatility, Filecoin struggle, and the upcoming FTX traders competition. It’s been a hot week.
September Has Stirred Many Crypto Investors
The main shock was the Solana blockchain outage. To recap on September 14, around 14:00 MSK, the validators suddenly stopped processing blocks. The developers explained they faced a high transaction load in the beta version of the main network. At its peak, the load reached 400,000 transactions per second. After many attempts to restore the network, it was restarted. The network was down for 16 hours. It’s also worth noting that this happened before the second stage of the Solana↔Ethereum bridge was launched. The bridge became fully operational on September 17, 2021.
Amid these problems, the Sol price dropped 13% from $160 to $140. But after the network was restored, the price went back to the previous values.
NEAR blockchain celebrated the week with a downturn and volatility. On September 9, the cost of one NEAR token was $10.3, but then adjustments began. Price during the week ranged from $9 to $8.2 per coin.
FTX cryptocurrency exchange will hold a traders competition with a prize pool of $54,800. The competition will last one month — from September 25 to October 25 (MSK).
Like most exchanges, FTX has its native FTX Token. Holders of this token receive a discount on fees, the size of the discount is tied to the trade volume.
The token rate is not volatile and showed a steady, albeit small, growth this week. But it is worth considering the upcoming trading competition, so we expect further growth of the token.
Also, Algorand distinguished itself by volatility. The token rate is gradually going down. Unfortunately, neither DeFi-projects nor Colombian vaccination passports help it.
As announced by the developers, Algorand is launching the Viridis Foundation, to support innovation in DeFi projects. The amount at the disposal of this fund is $300 million. So we will continue to monitor the development of this blockchain.
The FIL token of the Filecoin project has spent a week trying to recover after collapsing from the $117 per coin mark. Unfortunately, not very successful. The cost per coin was corrected from $89 to $79. We should not expect a return to the $100 mark soon.
DeFi over 100% per annum, has attracted a lot of investment in this project, and the recently set record added interest to this project. The project also attracts by its interface of work with the blockchain called DeBots. This interface simplifies blockchain operations for an ordinary user and allows developers to release previously impossible projects.
According to an insider, Free TON is preparing a global promotional campaign, so it’s time to buy TON Crystal to your wallet. Especially against the background of other coins, Free TON looks like a loaded gun, which is about to shoot.
It’s been a hot week, with Solana blockchain vulnerabilities, Filecoin recovery attempts, and the volatility of the top coins causing great concern. Many are looking for a stable niche with growth prospects.
Considering all the projects, as well as the upcoming launch of the promo, the most successful investment option is TON Crystal of the FreeTON project.