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Why Solana's Cryptocurrency Is Gaining

TheMotleyFool

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Solana's (CRYPTO: SOL) cryptocurrency saw significant sell-offs on Tuesday due to a network outage, but it's bouncing back in Wednesday's trading. The price per SOL token was up roughly 6% on the day as of 5:45 p.m. EDT.

The Solana blockchain network went offline on Tuesday due to high transaction volume, but the team was able to get things fixed relatively quickly, and the price of its crypto token subsequently recovered. It also looks like investors are shrugging off some potential tax and regulatory changes that could impact the broader crypto space.

Image source: Getty Images.

Source Fool.com

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