Solana has approved the new v1.14 update for its validator software. After the majority of network users decided to upgrade to the new version on May 22nd, v1.14 has been considered widely supported.
The good news is that the latest network update has been accepted by over 97% of Solana validators, as stated in a tweet by SOL.
New Upgrade Features
According to the official announcement, version 1.14 introduces several highly anticipated features on the Solana blockchain.
With the help of this release, Solana developers can collect fees from recent settled transactions and use that data to estimate future transactions. This functionality will also assist developers in utilizing full local fee markets that will be added in future updates.
The new update also brings changes to Solana's staking program. If approved by the validators' governance, this release will provide a platform to enforce minimum required stake delegation and introduce new RPCs for accessing existing minimum stake delegation.
The update also relates to memory caching optimizations.
It's interesting to note that the number of SOL stakers has grown exponentially over the past week. According to Staking Rewards, the number of SOL stakers has increased by over 1,800% in the last 7 days.
SOL Price Chart Turns Green In addition to the validators,
SOL investors have also had a comfortable week, evident in the price action. According to CoinMarketCap, the price has increased by over 6% in the past 7 days.
At the time of writing, it is trading at $21.09 with a market capitalization of over $8.3 billion. The price increase has also helped SOL gain popularity as social volume has risen.
Sentiment surrounding SOL has also shifted positively on May 29th, 2023, but then the weighted sentiment decreased.
This suggests that SOL's price will continue to rise Observing the daily chart, most market indicators support the bullish case. For instance, the MACD indicator clearly shows a bullish price advantage.
Solana's Chaikin Money Flow (CMF) is increasing, further bolstering the likelihood of price continuation. However, the Relative Strength Index (RSI) has chosen a different path and diverged, which could lead to some complications.
