After the downtime that occurred on the Solana network at the beginning of March, Solana (SOL) witnessed an increase in stakers. This happened several times during the past week.
However, the number stakers increased from 38 thousand to 572 thousand as of press time as per the most recent information from Staking Rewards.
SOL stakers’ chart (Source Staking Rewards)
One of the main reasons for the rise in the number of SOL stakeholders is the increase in the Solana’s Nakamoto Coefficient, which is the number of nodes (validators) that could impede consensus. The Nakamoto Coefficient increased up from 30, to 31, suggesting the fact that Solana is moving toward the development of a more decentralized network.
Related: Solana Network Back After 6-hour Long Outage, Restoring Client Services
While SOL members had plenty of motivations to remain on the Solana network however, the same can’t be said of SOL investors and traders. In the last couple of weeks, the weighted sentiment has been down according to the firm’s blockchain analytics Santiment and suggests that the cryptocurrency community was not awed of the recent price movement.
Weighted sentiment for SOL (Source: Santiment)
Despite the negative feedback that the project was subjected to from crypto enthusiasts, Solana’s Solana team didn’t stop engaging in collaborations with other projects coming up in Web3.
In actuality the case of Orbis, an Web3 social protocol known as Orbis announced their partnership together with Solana in the development of their Web Apps and SDK’s on the 6th day of the month.
As of press time when this article was written, SOL is at $32.93 after an 1.14 percent drop in line with CoinMarketCap. The altcoin has however been able to gain against the two cryptocurrency markets leaders Bitcoin (BTC) as well as Ethereum (ETH) in the amount of 0.83dollars and 0.58 percent, in each case.
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Related: Market capitalization for Uniglo (GLO) goes up. Even though Bitcoin (BTC) is dragging down major altcoins like Solana (SOL),
The article Solana Now More Decentralized as its Price Continues to Underperform was first published in Coin Edition.
