Solana’s price saw a notable recovery on Monday after a steep decline over the past seven days. This was
Additionally, Solana
Anza emphasized the update’s significance, urging MainnetBeta validators to adopt it. The enhancements introduced in the update are expected to mitigate Solana’s ongoing network congestion issues.
Furthermore,
Any issues encountered during the upgrade were to be reported to mb-validators. Solana Status, a trusted source, corroborated the announcement, recommending the v1.17.31 release for general use.
Trent.sol, Solana’s developer and operations manager,
While the improvements primarily target Solana’s Stake Weighted Quality of Service (SWQOS) and may not result in significant changes to the reliability of unstacked Tensor processing units (TPU) traffic, Solana users were advised to keep delinquency below 5% during the upgrade process.
Furthermore, Anza hinted at additional enhancements in the pipeline, urging users to stay tuned for further updates.
After unveiling updates to enhance network efficiency, the Solana price has surged by over 7%. This surge has helped offset the ongoing downtrend experienced by Solana, which amounted to nearly 21% over the past month.
In addition, the Hong Kong SFC has
This regulatory approval has not only positively impacted the prices of Bitcoin and Ethereum but has also instilled a sense of positivity in the overall cryptocurrency market. As a result, the
Despite the recent surge in Solana’s price, SOL’s trading volume has decreased by -44.70% in the last 24 hours, indicating a recent decline in market activity, according to CoinGecko
Solana’s current trading price of $151.40 presents the first obstacle in the cryptocurrency’s path toward further price gains. If this hurdle is surpassed, the next significant resistance lies at $170, which would signify a recovery of SOL’s gains recorded over the past month.
On the other hand, the $130 mark has proven to be a strong support level for Solana, representing the foundation of SOL’s one-month bullish structure, which propelled its price rally to nearly three-year highs of $210 on March 18.
Featured image from Shutterstock, chart from TradingView.com