Solana
Why Solana is up 5.9% today
Analysis
Solana (SOL) rose 5.9% over the past 24 hours as traders reacted to progress on performance upgrades, with CoinDesk reporting the network sped up block times by 17% (even if overall transaction capacity is unchanged). Sentiment also appeared supported by signs of strong on-chain activity and demand, as AMBCrypto noted SOL holding the $100 level while VIDAx volume on-chain ran far above exchange levels.
Contributing Factors (3)
Solana speeds up blocks by 17%, but transaction capacity stays the same
The network is cutting its target slot time to 250 milliseconds, giving apps fresher blockchain data and validators shorter control windows while reducing the amount of work allowed in each slot.
Solana price holds $100 as VIDAx volume on-chain hits 12.6x exchange levels
ETF flows are also positive.
Solana Speed Upgrade Enters Final Stretch, Key September Date Ahead
The upgrade will allow Solana users to have faster confirmation times for their transactions.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.