The ORE token, which has recently accelerated Solana network congestion, has fallen by more than 75% from its historical high on April 5
PANews reported on April 7 that DEX Screener data showed that the price of the ORE token dropped to a low of $824 at noon and has now risen to around $900. It is now quoted at $930.49, a drop of more than 75% from the historical high of $3,792.28 on April 5. .
According to The Block, ORE is a mineable token that was deployed to Solana on April 2, offering those who deposit SOL into smart contracts the opportunity to earn SOL by correctly solving cryptographic puzzles similar to proof-of-work operations. The protocol reward is 1 ORE every minute. It is reported that since yesterday afternoon, ORE miners have created about 1 million transactions per hour, greatly increasing Solana’s congestion, and the chain can only handle about 30 million non-voting transactions a day.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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