Coin Edition -
- Jacob Creech revealed that there is a $400K reward for anyone who can identify bugs in Solana’s code.
- This reward is one of the several rewards up for grabs in Solana’s new bug bounty program.
- Over the past few days, SOL’s price dropped below the key $22.20 support level.
The head of developer relations at Solana (SOL), Jacob Creech, revealed in an X (formerly Twitter) post, that there is a $400K reward for anyone who can identify bugs in Solana’s code base. According to the bug bounty, $400K is up for grabs to any developer who can identify a bug in the code that could lead to loss of availability.
Fyi there's a $400k reward for anyone that can find code that can turn off SolanaPlease go ahead and find ithttps://t.co/2oxcB0EEyx— Jacob Creech (@jacobvcreech) October 12, 2023
This reward will be paid in SOL tokens, which will be locked for 12 months. Notably, this reward is one of several offered by the Solana Foundation’s bug bounty program.
There is also a $100K payout to anyone who is able to execute a denial of service (DoS) attack against the network. Furthermore, a whopping $1 million reward will go out to anyone who is able to exploit security flaws in Solana’s consensus safety.
Meanwhile, at press time, CoinMarketCap data indicated that SOL was trading hands at $21.38. This was after the altcoin suffered a 1.56% loss over the past 24 hours. In addition to the negative daily performance, the cryptocurrency’s weekly performance was in the red as well, with the latest price decrease pushing it down to -8.53%.
Daily chart for SOL/USDT (Source: TradingView)
From a technical perspective, SOL’s price had fallen below the key $22.20 support level over the past few days. This has opened up the risk of the altcoin potentially dropping to the next critical price point at $19.35 in the short term. A daily candle close above $22.20 in the next 48 hours may invalidate this bearish thesis.
In this scenario, SOL’s price could attempt a challenge at the $25.55 resistance level within the following week. Thereafter, if the buying pressure persists, SOL could flip this level into support to potentially rise to as high as $29.30.
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