Solana Sees Largest DeFi Outflows After Bug Patch Raises Centralization Concerns

Market participants rushed to protect themselves and take money off of Solana after news broke on Saturday that developers had patched a previously unknown bug on the blockchain. Solana experienced a flurry of outflows over the weekend and into Monday after the ecosystem’s Foundation published its post mortem on the bug patch, with a net negative flow of $11 million between May 4-5. For comparison, Ethereum experienced a net positive flow of $1.6 million over the same period, and Bitcoin netted $1.9 million. The second-largest net negative flow after Solana was Berachain, which experienced a $8.4 million outflow. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io