What’s the Latest Situation in Solana (SOL) On-Chain Data?

The decline in cryptocurrencies for months, Left (LEFT) negatively affecting its investors. Added to the endless downtime problems in the SOL network, confidence in Solana has been severely shaken. While the crypto community is now biased towards Solana, some of the on-chain data is still positive.

on-chain The first positive news about their data came from SolBlaze, a Solana stake pool.

Solana Nakamoto Coefficient: 30 -> 31 🎉

The Nakamoto Coefficient is the minimum number of nodes (validators) that can halt consensus. Now, 31 validators have 33% of stake weight.

Staking $LEFT with pools like BlazeStake (https://t.co/uPEJDOoRx1) to keep increasing that number 🚀

— SolBlaze.org | Stakes with us! 🔥💃 (@solblaze_org) October 6, 2022

According to SolBlaze’s tweet, the Nakamoto coefficient on the Solana network increased to 31. The Nakamoto coefficient is an informal data that measures the decentralization of blockchain networks.

Stakers’ Income Increases!

The daily income of stakers in the Solana network also continues to increase steadily. While Spot SOL investors may complain, Solana gives a lot of incentives to keep stakers.

The last on-chain metric for Solana is analytics using social data. from Santiment came.

According to the chart shared by Santiment, Solana’s sentiment on investors has continued at a negative level in recent weeks. Despite the negative perception for SOL, there is no change in social media volume. This clearly shows how the outages in the Solana network affect investors.

The Solana network has come under criticism from the crypto community due to its frequent downtime. The network last experienced an hour-long outage on October 1, 2022. But Web3 startups continue to favor Solana.

Orbis, one of the new Web3 startups, recently announced that it will use the SOL network in its Web applications.