Solana’s (SOL) price has rebounded over 9% in the past day, recovering from the network outage earlier this week.

The outage, which lasted almost five hours, highlighted concerns about the network’s stability and centralization.

In other news, the Meme Kombat (MK) presale is nearing its conclusion, with early investors having one final chance to acquire tokens before their Uniswap listing.

Solana Outage Causes Brief Turbulence, But SOL Quickly Recovers

Despite the outage on February 6, Solana has shown remarkable resilience in the days after.

Within hours of the network returning online, the SOL token erased all the losses that had been sustained.

This quick recovery highlights the crypto community’s faith in Solana’s long-term viability as a leading layer-1 blockchain.

The outage was linked to complications with the “Berkeley Packet Filter,” a vital component for smooth upgrades and program execution.

This marked Solana’s first major incident of 2024, but it’s the 11th outage overall since the network first launched – with one occurring every two months on average.

While frustrating for developers and network users, the Solana Foundation is conducting a complete post-mortem analysis to uncover the root technical issues and enhance error handling.

However, SOL traders seem undeterred, with spot trading volumes remaining relatively stable in the past 48 hours.

Massive SOL Transfers Suggest Growing Whale Bullishness

In other news, two mammoth SOL token transfers occurred last week that may signal growing institutional interest.

The first, a transfer of 659,283 SOL, worth over $67 million at the time, went from one unknown wallet to another.

However, the second batch has sparked more intrigue,