AVAX Price Drops as Avalanche Platform Experiences Downtime

The Avalanche Blockchain has experienced vital downtime, failing to supply new blocks for over an hour, in response to PeckShield, a Blockchain Security and knowledge analytics firm.

The Avalanche builders have already acknowledged the problem, stating that they’re actively investigating block finalization points on the mainnet. 

The crew has directed customers to the official Avalanche standing web page for ongoing Updates.

Ömer Demirel, director at Avalanche, framed the downtime as a stark reminder of Avalanche’s Achilles’ heel. The incident introduced ACP-13, or subnet-only validators, into the highlight. It’s a proposed repair aimed toward beefing up the community’s resilience by letting subnets break away from the shackles of major community validation duties. 

Regardless of the surprising downtime, the AVAX token skilled solely a minor Price drop, shedding about 2.1% of its Price. The token is at the moment Trading at $36.24, in response to CoinGecko knowledge.   

This Price drop aligns with the broader altcoin Market, that means that AVAX has been hardly affected by the community experiencing greater than an hour of downtime. 

Solana, one other main Blockchain Network recognized for its excessive throughput and low latency, skilled the same outage two weeks in the past, lasting roughly 5 hours. The incident led to a short lived dip in Solana’s SOL token Price, although it notably rebounded shortly thereafter.    

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