# Solana's Rough Morning

*Author: Bankless*
*Published: Feb 6, 2024*
*Source: https://www.bankless.com/fr/solana-hit-by-outage-2*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/02/Frame-50474--8--3.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=bull-vs-bear-jup&email=true)

  

     Solana's Rough Morning
  
  

  
  Published on Feb 6, 2024

[
  
  View in Browser

](https://bankless.com/read/briefs)
 

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[**Sponsor: Kraken**](https://www.bankless.com/sponsor/kraken-1682978636?ref=bull-vs-bear-jup&email=true) — Sign up for an account and see what crypto can be. 

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
   SEC's New Rules
  
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/02/Group-14--28-.png)](https://www.bankless.com/dashboard)- 😒 **SEC adopts strict DeFi rules.** Rules widening the definition of crypto users and entities who would have to comply with "dealer" rules [were cleared by the SEC on Tuesday.](https://www.coindesk.com/policy/2024/02/06/us-sec-clears-dealer-rule-expansion-that-could-rope-in-defi/)
- 🆙 **Solana back up. **After a 5-hour outage that halted block progression, core engineers [rolled out a fix](https://x.com/rajgokal/status/1754908278533063142?s=20) and brought the network back online. 
- **🕵️‍♂️ Binance to delist Monero. **Privacy coin XMR is [getting dumped from Binance](https://x.com/monero/status/1754877964133552501?s=20), signaling the enduring regulatory pressure that the CEX faces. XMR fell nearly 37% on the news.

.  .  .

 
  
    
      
      TODAY IN MARKETS
    
    
  
  
    
    Solana Hit by Major Outage
  
  

  

 
 

📊** SOL Survivor:** Solana experienced its first major outage in a year, and markets initially responded by selling SOL, sending the token tumbling by 3.5%. *Why was this event a testament to Solana’s resilience?*

[Get Today's Full Market Analysis](https://www.bankless.com/solana-hit-by-outage)

Prices as of 5pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $1.66T
       

  
    
    ↗ 2.0%
    
  

   
    
    ↘ 0.6%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $43,195
       

  
    
    ↗ 1.9%
    
  

   
    
    ↘ 0.7%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,383
       

  
    
    ↗ 4.1%
    
  

   
    
    ↗ 0.4%
    
  

       ![](https://s2.coinmarketcap.com/static/img/coins/64x64/5426.png)
    

  **SOL**
   
          $97.69
       

  
    
    ↗ 3.2%
    
  

   
    
    ↘ 6.1%
    
  

  

.  .  .

 
  
    

    ANALYSIS

  
  
    
   
  Bull vs Bear: $JUP Token
  
  
  
  
   
     
     Bankless Authors: 
     
      [
       
       Jack Inabinet](https://twitter.com/JackInabinet) & [
       
       David C.
     
    ](https://twitter.com/davewardonline)
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/02/image---2024-02-06T164254.331.png)](https://www.bankless.com/bull-vs-bear-jup)Jupiter's airdrop last week put 1 billion JUP into the hands of the Solana DEX aggregator's earliest users, **but should airdrop recipients be holding onto these tokens?**

In today's issue, two Bankless analysts take opposing sides, framing the bull and bear cases for the token's future performance.

### 🐂 What's the Bull Case for JUP?
Speculation has ingrained itself as one of crypto’s leading use cases. While aggregation has not emerged as a killer product on Ethereum, it is uniquely positioned to succeed on Solana thanks to the chain’s low fees, which make it economically feasible to trade across a large number of pools.

Jupiter, Solana’s leading exchange, takes advantage of aggregation to offer swappers the best possible price on their trades – an appealing feature for crypto newbies and DeFi pros alike – and is currently processing 80% of Solana’s swaps.

For degens not satisfied with spot crypto exposure, Jupiter offers a fantastic perpetuals product, which does hundreds of millions in volume daily, allows liquidity providers to earn 100%+ yields on their deposits, and offers traders 100x leverage on BTC, ETH, and SOL.

With its spot exchange facilitating the majority of Solana swaps and the ceiling on its perps products limited only by caps put in place to manage risk, the bull case for Jupiter shines bright...

[Read the Bear Case](https://www.bankless.com/bull-vs-bear-jup)

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