Ethereum co-founder Gavin Wood has warned crypto investors of a collapse in Solana, BNB, XRP and Cardano (ADA). Solana has recently had operational issues in the past and Blockchain has been unable to process transactions for hours. According to Wood, the Solana Blockchain is slowing down, creating a bearish sentiment among investors. Ethereum co-founder Solana shared his negative view of predicting a market crash. Here are the details…
Gavin Wood Cardano gives a stern warning to XRP, SOL investors
Ethereum co-founder has issued a warning to altcoin holders against Solana price drop. Wood believes that the crypto market may witness further declines after losing $1 trillion in the last bloodbath. According to the expert, cryptocurrencies such as Solana, BNB, XRP and Cardano may fall in response to the price drop. Wood said at the World Economic Forum in Davos:
I hope people pay more attention when they are involved in a community, ecosystem, economy. Technology cannot prevent people from making mistakes, but it can help those who want to better understand the realities of the world, what they are buying. As
Kriptokoin.com, the massive collapse in LUNA and UST has aroused suspicion among crypto investors and raised fears among owners. Gavin Wood believes that the price of Solana could change wildly in response to the volatility in the crypto market.
Solana network stopped
At 6 pm on May 28, Solana’s team announced that it is working 30 minutes behind the blockchain clock. Slow block times negatively impacted staking rewards. On chain timekeeping runs about 30 minutes behind wall clocks due to longer block time than usual. Although this has no impact on performance or network operations, the time reported by block explorers and dapps may not reflect wall clock time.
The Solana Blockchain has a block time of 400 milliseconds by design, but the 1-minute average is now 659 milliseconds. Slow block time reduces staking rewards as it translates into inconsistency with clocks. At the time of writing, SOL is changing hands at $43.05, up 3.56%.
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