On February 6, 2024, the Solana network faced its 11th disruption in two years, with a 5-hour downtime.

A South Korean crypto exchange paused deposits and withdrawals of SOL due to the network issues.

Solana's SOL token value initially fell by 5% but later recovered after the network was restarted.

The Solana team is investigating the cause of the outage and working on a software update for better stability.

Technical analyst Mark Harvey raised concerns over SOL's investment potential, citing centralization and frequent outages.

Despite the issues, SOL's price saw a moderate decline of 3% to approximately $94.

The market's reaction to Solana's outage was mixed, with varying analyst opinions on the potential impact on SOL's value.

The recent event underscores the critical need for Solana to enhance its network's stability and reliability.