Solana

Avalanche

In a concerning turn of events, the <a href="https://coingape.com/blog/avax-news-is-avalanche-worth-the-hype/" target="_blank" rel="noopener noreferrer nofollow">Avalanche (AVAX)</a> cryptocurrency witnessed a significant platform outage, leading to a drop in AVAX price. Now, the market participants are growing increasingly wary as the platform grapples with issues related to block finalization, leaving many to speculate on the root cause and potential resolution.
Meanwhile, as news of the disruption spread, the AVAX price experienced a slump of over 3%, sparking concerns among the traders.
<h2 id="avalanche-platform-outage-sparks-concerns">Avalanche Platform Outage Sparks Concerns</h2>
The Avalanche status page <a rel="noopener noreferrer nofollow" href="https://status.avax.network/" target="_blank">issued</a> a statement indicating a “Block Finalization Stall,” with developers actively investigating the issue. Notably, according to the update, the stall in block finalization on the Primary Network is hindering the acceptance of new blocks, leading to operational disruptions.
Meanwhile, Ava Labs co-founder Kevin Sekniqi took to social media platform X to address the situation, acknowledging the ongoing investigation into the primary network’s block production issue. In addition, he mentioned a potential connection to a recent inscription wave launched approximately an hour before the disruption.
Despite the recent outage, Sekniqi assurance has sent some relief to the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> community. Notably, describing the incident as an “esoteric bug” stemming from untested edge cases, he assured users that efforts were underway to resolve the issue swiftly.
Also Read: <a href="https://coingape.com/ftx-to-sell-eu-assets-after-dismissing-323-mln-lawsuit-against-europe-wing/" target="_blank" rel="noopener noreferrer nofollow">FTX To Sell EU Assets After Dismissing $323 Mln Lawsuit Against Europe Wing</a>
<h2 id="price-performance-comparison-to-solana-outage">Price Performance &amp; Comparison To Solana Outage</h2>
The outage has prompted discussions within the crypto community, drawing comparisons to the recent <a href="https://coingape.com/solana-outage-is-finally-resolved-after-5-hour-hiatus/" target="_blank" rel="noopener noreferrer nofollow">Solana</a> blockchain network outage. Just earlier this month, Solana experienced a significant downtime lasting nearly five hours, rendering the platform non-functional.
Now, with both Avalanche and Solana encountering disruptions within a short timeframe, social media users are actively debating the reliability and scalability of emerging <a href="https://coingape.com/glossary/blockchain/" target="_blank" rel="noopener noreferrer nofollow">blockchain</a> networks.
Meanwhile, as of writing, the <a href="https://coingape.com/price/avalanche/" target="_blank" rel="noopener noreferrer nofollow">Avalanche price</a> slipped 3.08% and traded at $36.38, while its trading volume slipped 16.83% to $422 million. Notably, the AVAX crypto has lost nearly 12% in the last seven days, while noting monthly gains of 30%.
Also Read: <a href="https://coingape.com/trending/pepe-2-0-what-is-it-and-why-its-trending/" target="_blank" rel="noopener noreferrer nofollow">PEPE 2.0- What Is It and Why It’s Trending?</a>
The post <a href="https://coingape.com/avalanche-avax-price-slips-amid-major-platform-outage/" rel="noopener noreferrer nofollow">Avalanche (AVAX) Price Slips Amid Major Platform Outage</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Avalanche (AVAX) Price Slips Amid Major Platform Outage

목차

Coingape News Media

2024년 2월 23일에 게재된 다른 기사

After Dencun, Ethereum devs set sights on Electra upgrade

$Meme From Memeland Explained: What’s Hot on Memeland, 9GAG, and Stakeland!

Startale Labs Nets $3.5M from UOB, Samsung in Seed Extension

Binance Web3 Wallet adds inscriptions marketplace, supports ERC-404

AI-based meme coins rally following Worldcoin’s record weekly gains

Serenity Shield Q1 Updates

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!