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Solana Hit By Major 5 Hour Network Outage

Solana Hit By Major 5 Hour Network Outage

Solana rebounds from outage, EigenLayer's TVL soars, ENS-Godaddy partnership, Ripple's legal developments, and more in today's top crypto stories.

Welcome to the newest issue of Datawallet Daily. As always, we’ve combed through Crypto Twitter and various news outlets to deliver the day’s top stories:

Solana Network Faces Major Outage

Solana's blockchain network experienced a significant outage lasting about five hours, impacting transactions and temporarily affecting the value of its SOL token. The issue, which began around 09:52 UTC, saw SOL's price drop from approximately $97 to below $93. However, the network quickly bounced back, with the token nearly regaining its lost value soon after the resolution.

Core engineers and validators rapidly addressed the situation, developing a new software version for validators to rectify the glitch. The Solana Foundation issued guidance for an upgrade and network restart, emphasizing the importance of quick and coordinated responses in managing blockchain.

This marks the first major disruption since February 2023, following several outages in 2022. Solana previously faced node-related issues that caused outages in the past.

EigenLayer Raises Staking Limit, TVL Exceeds $3.7B

EigenLayer’s temporary removal of its 200,000 ETH staking cap resulted in a significant increase in TVL. This change led to over 1 million ETH flowing into EigenLayer within two hours, elevating its TVL to $3.7 billion, a $1.5 billion increase from the previous day. The protocol facilitates additional earnings for investors by allowing restaking of staked ETH tokens, supporting major liquid staking tokens like stETH and RETH. The cap lift, intended to attract organic demand, will be reinstated on February 9, with plans for a future permanent removal.

ENS and GoDaddy Partner to Link Web and Blockchain Domains

Ethereum Name Service (ENS) and GoDaddy have partnered to integrate traditional domain names with blockchain-based ENS names, allowing seamless linking without extra costs or technical hurdles. This collaboration aims to bridge the gap between conventional DNS and blockchain technology, providing GoDaddy’s 20 million users with blockchain functionalities, such as receiving cryptocurrency payments directly. 

Judge Orders Ripple to Share Financial Statements

In the ongoing legal battle between Ripple and the SEC, Judge Sarah Netburn has ruled in favor of the SEC’s motion. Ripple has been ordered to provide its financial statements for the years 2022-2023, post-complaint contracts, and institutional XRP sales proceeds that occurred after the SEC’s complaint was filed. 

The judge emphasized the importance of accessing this information for the remedy stage of the case and dismissed Ripple’s arguments against the request. The SEC contends that these documents will help determine potential injunctions and civil penalties. The court has set a discovery deadline of February 12 for this purpose.

Other breaking news

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