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▪️ Star Atlas, a sci-fi MMORPG in development, is one of the many games that has chosen Solana for its tokens and NFTs. #NFTComeback #Solanaseason #ATLAS
#Solanaseason $SOL
Solana Time frame 4 hours.
1. Supply is still stable at the price of 113.
2. If it breaks up 113 then Solana has a chance to continue rising to 120
3. If Solana is unable to break supply it will return to 100 - 102 in the demand area
I hope this helps
hello bro
#Write2Eam #BTC #TrendingTopic
Solana Time frame 4 hours.
1. Supply is still stable at the price of 113.
2. If it breaks up 113 then Solana has a chance to continue rising to 120
3. If Solana is unable to break supply it will return to 100 - 102 in the demand area
I hope this helps
hello bro
#Write2Eam #BTC #TrendingTopic
Solana (SOL) Navigates Risky Territory: Eyes on Crucial Breakthrough
Solana (SOL), a prominent player in the cryptocurrency market, finds itself at a critical juncture as it hovers below the $60 support zone since its fall on November 20. Currently trading at $58.21, reflecting a 2.36% increase in the past 24 hours, the crypto community is closely monitoring SOL's movements amid signs that a breakthrough may be on the horizon.Precarious Position Below $60 SupportThe dip below the $60 support zone marked a significant moment for Solana, raising concerns among traders and investors. As the crypto market experiences heightened volatility, SOL has faced downward pressure, challenging its ability to reclaim the crucial support level.At the time of writing, SOL is trading just below the $60 mark, indicating a precarious position. The next moves for Solana will be closely watched, as breaching this level could potentially open the door for further downward momentum, while a successful recovery could signal a reversal of the recent trend.Bullish Core Metrics Inspire ConfidenceDespite the challenges posed by the dip below $60, core metrics for Solana present a more optimistic picture. The bullish indicators suggest that a recapture of the $60 price level is imminent in the near term. This positive sentiment is bolstered by key performance metrics that indicate underlying strength within the Solana ecosystem.Traders and analysts are noting the resilience of Solana's core metrics, which may serve as a foundation for a potential upward movement. As Solana navigates this critical phase, the ability to leverage its robust fundamentals will be crucial in determining the trajectory of its price action.Imminent Price MovementThe current price of $58.21 reflects a modest uptick in the past 24 hours, hinting at potential buying interest. The cryptocurrency market is known for its swift and unpredictable movements, and SOL's ability to maintain and build upon this positive momentum will be closely monitored.Traders and investors should exercise caution and closely follow developments in the coming days. The near-term movements of SOL, especially its attempt to reclaim the $60 support, will likely shape market sentiment and influence trading strategies.Conclusion: Navigating the CrossroadsSolana's position below the $60 support zone has sparked a keen interest in the crypto community, with stakeholders eagerly awaiting its next moves. The bullish core metrics instill confidence, suggesting that a breakthrough could be on the horizon. However, the crypto market's inherent volatility demands a careful approach, and participants should remain vigilant as Solana navigates this pivotal moment.As Solana seeks to recapture the $60 price level, the crypto community will gain valuable insights into the resilience of the project and the broader sentiment in the market. Whether SOL experiences a resurgence or faces further challenges, its journey serves as a reminder of the dynamic nature of the cryptocurrency landscape, where each movement holds the potential to shape the future trajectory of digital assets.$SOL ~ #Solanaseason #SOLPriceAnalysis
Solana Melonjak 19% Di Tengah Konsolidasi Pasar, Memerintahkan 'Kimchi Premium' Terkemuka di Korea Selatan.
Minggu ini terjadi lonjakan signifikan dalam nilai SOL , mata uang digital asli Solana, jaringan blockchain lapisan satu (L1). Dalam kurun waktu tujuh hari terakhir, nilai SOL telah meningkat lebih dari 45% jika diukur terhadap dolar AS.
Selama sebulan terakhir, peningkatan ini semakin terasa, dengan SOL menunjukkan kenaikan sebesar 167%. Pada hari Rabu, 15 November 2023, SOL menunjukkan rentang perdagangan dinamis, berfluktuasi antara $52.92 dan $63.32 per unit.
Ini menandai peningkatan signifikan sebesar 19% dari harga pembukaan di awal aktivitas perdagangan hari ini. Meskipun pertumbuhan SOL mengesankan, SOL masih berada 75% di bawah puncaknya pada November 2021, yang nilainya mencapai $259 per koin.
Selama 24 jam terakhir, SOL mencatatkan volume perdagangan global 24 jam secara signifikan sebesar $3,31 miliar, menjadikannya peringkat keenam terbesar pada hari itu. Dalam bidang kapitalisasi pasar di antara lebih dari 10.000 aset cryptocurrency, SOL juga memegang posisi keenam.
Pada hari Rabu, pasangan perdagangan dominan untuk solana adalah USDT , mencakup 59% dari seluruh perdagangan SOL. Tether diikuti oleh USD (16,64%), KRW (12,3%), BTC (4,26%), dan BUSD (2,18%) sebagai pasangan perdagangan teratas SOL pada 15 November.
Saat ini, 'premium Kimchi' sederhana diamati untuk SOL di Korea Selatan, dengan harga $64,34 per unit di Bithumb dan $63,61 di Upbit, sedangkan rata-rata global berada di $61,80 per SOL pada pukul 12:26 siang (EST ) . Pada saat yang sama, pada Rabu sore, SOL adalah pasangan perdagangan teratas di Upbit, menyumbang 7,65% dari total volume perdagangan bursa.
#SOL #Solanaseason #solana
Minggu ini terjadi lonjakan signifikan dalam nilai SOL , mata uang digital asli Solana, jaringan blockchain lapisan satu (L1). Dalam kurun waktu tujuh hari terakhir, nilai SOL telah meningkat lebih dari 45% jika diukur terhadap dolar AS.
Selama sebulan terakhir, peningkatan ini semakin terasa, dengan SOL menunjukkan kenaikan sebesar 167%. Pada hari Rabu, 15 November 2023, SOL menunjukkan rentang perdagangan dinamis, berfluktuasi antara $52.92 dan $63.32 per unit.
Ini menandai peningkatan signifikan sebesar 19% dari harga pembukaan di awal aktivitas perdagangan hari ini. Meskipun pertumbuhan SOL mengesankan, SOL masih berada 75% di bawah puncaknya pada November 2021, yang nilainya mencapai $259 per koin.
Selama 24 jam terakhir, SOL mencatatkan volume perdagangan global 24 jam secara signifikan sebesar $3,31 miliar, menjadikannya peringkat keenam terbesar pada hari itu. Dalam bidang kapitalisasi pasar di antara lebih dari 10.000 aset cryptocurrency, SOL juga memegang posisi keenam.
Pada hari Rabu, pasangan perdagangan dominan untuk solana adalah USDT , mencakup 59% dari seluruh perdagangan SOL. Tether diikuti oleh USD (16,64%), KRW (12,3%), BTC (4,26%), dan BUSD (2,18%) sebagai pasangan perdagangan teratas SOL pada 15 November.
Saat ini, 'premium Kimchi' sederhana diamati untuk SOL di Korea Selatan, dengan harga $64,34 per unit di Bithumb dan $63,61 di Upbit, sedangkan rata-rata global berada di $61,80 per SOL pada pukul 12:26 siang (EST ) . Pada saat yang sama, pada Rabu sore, SOL adalah pasangan perdagangan teratas di Upbit, menyumbang 7,65% dari total volume perdagangan bursa.
#SOL #Solanaseason #solana
Hello Binance, I have already prepared the poster for you
#rats #BRC20 #Solanaseason #ORDI. #BONK #SATS
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#write2earn #Solana Price Nears $150 Milestone Amid Market Volatility #Solanaseason #sol #solana✈️
$SOL
Despite the turbulent movements in the market, Solana (SOL) has managed to steadily climb, gaining an extra 5% and reaching $145. However, it encounters significant resistance at $150, a level it hasn't touched in over two years.
Solana (SOL) Price Approaches Two-Year High
As the SOL price inches closer to the crucial $150 mark, there's a palpable sense of excitement among crypto enthusiasts. Insights from Santiment, an on-chain data provider, reveal that it's been since January 16th, 2022, that Solana approached this price level.
While the overall sentiment towards Solana appears somewhat bullish, it lacks the frenzied enthusiasm often seen during times of fear of missing out (FOMO), which might temper any potential rally.
In the realm of cryptocurrencies, skepticism has historically fueled price increases. As Solana teeters on the edge of this significant price point, market watchers eagerly await further developments to predict its trajectory upward.
Anticipated Rally for SOL Price
Numerous market analysts are forecasting a robust rally for Solana, envisioning it surpassing $200 and beyond. The notable trading activity of Solana-based meme coins like Dogwifhat serves as a strong foundation for the anticipated rally in SOL price.
Moreover, significant market players are increasingly interested in acquiring Solana at its current price. Just recently, on Thursday, March 7, Pantera Capital disclosed plans to raise an astonishing $250 million to purchase all of FTX's Solana holdings. This move aims to secure heavily discounted Solana tokens from FTX's estate, given the digital asset exchange's bankruptcy filing.
Despite its upward momentum, SOL still trails 43% behind its previous all-time high (ATH) of $259, achieved in November 2021. However, according to crypto analyst Altcoin Sherpa, there's optimism that SOL will surpass its previous ATH in the current market cycle, with the extent of the breakthrough being the only unknown variable.
$SOL
Despite the turbulent movements in the market, Solana (SOL) has managed to steadily climb, gaining an extra 5% and reaching $145. However, it encounters significant resistance at $150, a level it hasn't touched in over two years.
Solana (SOL) Price Approaches Two-Year High
As the SOL price inches closer to the crucial $150 mark, there's a palpable sense of excitement among crypto enthusiasts. Insights from Santiment, an on-chain data provider, reveal that it's been since January 16th, 2022, that Solana approached this price level.
While the overall sentiment towards Solana appears somewhat bullish, it lacks the frenzied enthusiasm often seen during times of fear of missing out (FOMO), which might temper any potential rally.
In the realm of cryptocurrencies, skepticism has historically fueled price increases. As Solana teeters on the edge of this significant price point, market watchers eagerly await further developments to predict its trajectory upward.
Anticipated Rally for SOL Price
Numerous market analysts are forecasting a robust rally for Solana, envisioning it surpassing $200 and beyond. The notable trading activity of Solana-based meme coins like Dogwifhat serves as a strong foundation for the anticipated rally in SOL price.
Moreover, significant market players are increasingly interested in acquiring Solana at its current price. Just recently, on Thursday, March 7, Pantera Capital disclosed plans to raise an astonishing $250 million to purchase all of FTX's Solana holdings. This move aims to secure heavily discounted Solana tokens from FTX's estate, given the digital asset exchange's bankruptcy filing.
Despite its upward momentum, SOL still trails 43% behind its previous all-time high (ATH) of $259, achieved in November 2021. However, according to crypto analyst Altcoin Sherpa, there's optimism that SOL will surpass its previous ATH in the current market cycle, with the extent of the breakthrough being the only unknown variable.
SEC Targets Solana and Cardano in Kraken Legal Battle
Kraken, a cryptocurrency exchange, finds itself once again in the regulatory crosshairs as the U.S. Securities and Exchange Commission (SEC) initiates a fresh lawsuit, designating Cardano (ADA) and Solana (SOL), among other cryptocurrencies, as securities. This development aligns with an overarching trend of regulatory actions targeting major exchanges and classifying diverse digital assets as securities, echoing recent legal actions against Binance and Coinbase.SEC’s Position on ADA, SOL, and OthersThe SEC’s legal action against Kraken signals an expanding regulatory focus, extending beyond exchanges to specific cryptocurrencies. Notably, Cardano (ADA) and Solana (SOL) are now categorized as securities according to the SEC’s latest lawsuit.Earlier this year, the SEC pursued similar legal actions against Binance and Coinbase. It alleged that tokens like ADA, SOL, and Polygon (MATIC) were operating as unregistered securities. This broader regulatory crackdown reflects ongoing efforts to bring various facets of the cryptocurrency market within the SEC’s regulatory scope.Rejections from Founders and Development FirmsFacing the SEC’s assertions, Charles Hoskinson, the founder of Cardano, clarified that no enforcement action specifically targets ADA. Similarly, Input Output Global (IOG), the firm behind the Cardano blockchain, and the Solana Foundation rejected the SEC’s characterization of ADA and SOL as securities.Despite these denials, the lawsuit contributes to the mounting regulatory uncertainty in the cryptocurrency space. This has led investors and market participants to closely observe unfolding developments and assess their potential impact on the implicated cryptocurrencies.Price Movements for ADA and SOLThe market has not overlooked the legal scrutiny, influencing the price trajectories of ADA and SOL. ADA, after a brief pause, shows determination to resume its upward trend, testing the key resistance at 41 cents. The robust support at 35 cents suggests it may not be revisited soon. ADA’s future trajectory hinges on breaking this formidable resistance level, and at present, it is trading at $0.3847 with minimal fluctuations.Solana’s SOL, on the other hand, experienced a price surge to $68, reaching its highest level since May 2022, despite overall market volatility. However, it encountered substantial resistance at this level. Investor optimism for SOL has been notably high, as reported by Santiment. Despite this, the coin faced a 6% daily drop, trading at $55.74 at the time of writing.The SEC’s lawsuit against Kraken, specifically designating Cardano (ADA) and Solana (SOL) as securities, introduces an added layer of complexity to the regulatory landscape for cryptocurrencies. As the legal proceedings unfold, market participants will closely monitor the implications for ADA, SOL, and other digital assets, assessing the potential for heightened regulatory clarity or continued ambiguity in the evolving crypto regulatory framework.#SECImpact #Solanaseason
▪️ Solana currently boasts a little over 125 games in its ecosystem #Solanaseason #CryptoRealism #Web3Finance
Rising Stars on Solana: NFTs and Gaming Projects
Unlocking Creativity: The Rise of NFTs and Gaming Projects on Solana In 2024
Solana has emerged as a vibrant ecosystem for innovation, and at the intersection of Non-Fungible Tokens (NFTs) and gaming, a new wave of projects is making waves. This article explores the rising stars on Solana, focusing on the synergy between NFTs and gaming projects that are reshaping the digital landscape.
The Solana Advantage for NFTs and Gaming:
Unpack why Solana has become a preferred blockchain for NFTs and gaming projects. From high throughput to low transaction costs, explore the features that make Solana an ideal playground for digital creators.
Innovative NFT Use Cases in Gaming:
Dive into the creative use cases of NFTs within the gaming realm. From unique in-game assets to verifiable ownership, discover how NFTs are revolutionizing the way gamers engage with and monetize their virtual experiences.
Solana-Powered NFT Marketplaces:
Explore the Solana-powered NFT marketplaces that have gained momentum. Highlight platforms that provide a seamless environment for creators to mint, trade, and showcase their NFTs, fostering a robust ecosystem.
Gaming Projects with Play-to-Earn Models:
Delve into gaming projects on Solana that embrace play-to-earn models, allowing players to earn valuable NFTs through in-game achievements. Explore how this paradigm shift is transforming the traditional gaming landscape.
Collaborations and NFT Drops:
Spotlight notable collaborations between gaming projects and NFT artists on Solana. Investigate how these partnerships contribute to the uniqueness and desirability of NFTs within the gaming community.
Community Engagement and Governance:
Explore the role of community engagement and governance in Solana’s NFT and gaming projects. How are communities actively participating in decision-making processes and contributing to the growth of these projects?
NFTs Beyond Gaming:
Beyond gaming, uncover how Solana’s NFT space extends into art, music, and virtual real estate. Highlight projects that showcase the versatility of NFTs on the Solana blockchain.
Challenges and Future Developments:
Acknowledge the challenges faced by Solana’s NFT and gaming projects and how the ecosystem is evolving to overcome them. Preview upcoming developments that could shape the future landscape.
Conclusion:
As NFTs and gaming converge on Solana, a dynamic ecosystem is unfolding. From innovative use cases and play-to-earn models to community-driven governance, Solana’s rising stars in NFTs and gaming are redefining the boundaries of digital creativity and immersive virtual experiences.
#solana #Solana-SOL #Solanaseason
Solana has emerged as a vibrant ecosystem for innovation, and at the intersection of Non-Fungible Tokens (NFTs) and gaming, a new wave of projects is making waves. This article explores the rising stars on Solana, focusing on the synergy between NFTs and gaming projects that are reshaping the digital landscape.
The Solana Advantage for NFTs and Gaming:
Unpack why Solana has become a preferred blockchain for NFTs and gaming projects. From high throughput to low transaction costs, explore the features that make Solana an ideal playground for digital creators.
Innovative NFT Use Cases in Gaming:
Dive into the creative use cases of NFTs within the gaming realm. From unique in-game assets to verifiable ownership, discover how NFTs are revolutionizing the way gamers engage with and monetize their virtual experiences.
Solana-Powered NFT Marketplaces:
Explore the Solana-powered NFT marketplaces that have gained momentum. Highlight platforms that provide a seamless environment for creators to mint, trade, and showcase their NFTs, fostering a robust ecosystem.
Gaming Projects with Play-to-Earn Models:
Delve into gaming projects on Solana that embrace play-to-earn models, allowing players to earn valuable NFTs through in-game achievements. Explore how this paradigm shift is transforming the traditional gaming landscape.
Collaborations and NFT Drops:
Spotlight notable collaborations between gaming projects and NFT artists on Solana. Investigate how these partnerships contribute to the uniqueness and desirability of NFTs within the gaming community.
Community Engagement and Governance:
Explore the role of community engagement and governance in Solana’s NFT and gaming projects. How are communities actively participating in decision-making processes and contributing to the growth of these projects?
NFTs Beyond Gaming:
Beyond gaming, uncover how Solana’s NFT space extends into art, music, and virtual real estate. Highlight projects that showcase the versatility of NFTs on the Solana blockchain.
Challenges and Future Developments:
Acknowledge the challenges faced by Solana’s NFT and gaming projects and how the ecosystem is evolving to overcome them. Preview upcoming developments that could shape the future landscape.
Conclusion:
As NFTs and gaming converge on Solana, a dynamic ecosystem is unfolding. From innovative use cases and play-to-earn models to community-driven governance, Solana’s rising stars in NFTs and gaming are redefining the boundaries of digital creativity and immersive virtual experiences.
#solana #Solana-SOL #Solanaseason
$SOL updates
sol breakout confirmed
first target 73$
second target 80$+
third 120$+
#SolanaDeFi #SOLPriceAnalysis #SolanaPriceSurge #Solanaseason
sol breakout confirmed
first target 73$
second target 80$+
third 120$+
#SolanaDeFi #SOLPriceAnalysis #SolanaPriceSurge #Solanaseason
Solana DEX Aggregator Jupiter airdrops users 10% of total supply of $JUP tokens.
Jupiter Exchange, a liquidity aggregator for Solana, offers diverse tokens and facilitates route discovery between token pairs.
The platform focuses on enhancing user experiences and providing developers with tools to access the swap function in applications, interfaces, or on-chain programs.
Excitement swept through X as Jupiter and Solana supporters learned about the allocation of $JUP tokens for an upcoming airdrop.
Jupiter is airdropping users 4 billion of the total 10 billion supply, this accounts for 10% of the total supply earmarked for the airdrop.
According to projections, each allocation could have a swap value of over $1000 when the JUP token finally goes live.
This delightful news brought smiles to the faces of Solana and Jupiter users, prompting them to eagerly check their wallets for the allocated tokens.
On December 1st, Jupiter took to Twitter to announce the launch of the portal airdrop allocation checker to check for their allocated $JUP token.
Now, users have the option to link their wallets and find out the amount of $JUP they’ve been given. Prior to finalizing this allocation, a thorough data analysis was conducted.
In the cryptocurrency world, airdrops involve the distribution of free tokens or cryptocurrencies to existing holders.
Typically used as a marketing strategy, community engagement method, or wider token distribution approach, airdrops reward participants based on specific criteria.
For the $JUP airdrop, see criteria below:
This could include holding a specific cryptocurrency or being an active user on a particular platform. Airdrops serve as a way to raise awareness, foster user adoption, and reward ongoing supporters of a project.
#Solanaseason $SOL
Jupiter Exchange, a liquidity aggregator for Solana, offers diverse tokens and facilitates route discovery between token pairs.
The platform focuses on enhancing user experiences and providing developers with tools to access the swap function in applications, interfaces, or on-chain programs.
Excitement swept through X as Jupiter and Solana supporters learned about the allocation of $JUP tokens for an upcoming airdrop.
Jupiter is airdropping users 4 billion of the total 10 billion supply, this accounts for 10% of the total supply earmarked for the airdrop.
According to projections, each allocation could have a swap value of over $1000 when the JUP token finally goes live.
This delightful news brought smiles to the faces of Solana and Jupiter users, prompting them to eagerly check their wallets for the allocated tokens.
On December 1st, Jupiter took to Twitter to announce the launch of the portal airdrop allocation checker to check for their allocated $JUP token.
Now, users have the option to link their wallets and find out the amount of $JUP they’ve been given. Prior to finalizing this allocation, a thorough data analysis was conducted.
In the cryptocurrency world, airdrops involve the distribution of free tokens or cryptocurrencies to existing holders.
Typically used as a marketing strategy, community engagement method, or wider token distribution approach, airdrops reward participants based on specific criteria.
For the $JUP airdrop, see criteria below:
This could include holding a specific cryptocurrency or being an active user on a particular platform. Airdrops serve as a way to raise awareness, foster user adoption, and reward ongoing supporters of a project.
#Solanaseason $SOL
What is it and how did it come about?
The Solana white paper was published in November 2017. The team behind the project was and still is led by Anatoly Yakovenko. The testing phase began in 2018 and ended with the ICO the following year. An initial offering raised 20 million, spent to finalize the project and debut on major cryptocurrency exchanges. In 2021, the price of Solana rose from almost $3, to the ATH of $260, becoming one of the most popular cryptocurrencies among DeFi users and enthusiasts.
The Solana protocol is designed to facilitate the creation of decentralized applications, also known as Dapps. The goal is to improve the scalability of blockchain technology through an innovative consensus system for transactions. The platform uses Proof-of-Stake, but integrates it with Proof-of-History, a mechanism that orders transactions more efficiently. Like Ethereum, Solana also allows the development of smart contracts, but at a lower cost. Possible applications range from NFTs and DeFi transactions to entertainment and gaming. For all these reasons, many people are constantly wondering whether to buy Solana (SOL).#SolanaPriceSurge #Solanaseason #SOLPriceAnalysis $BTC $USDC
The Solana white paper was published in November 2017. The team behind the project was and still is led by Anatoly Yakovenko. The testing phase began in 2018 and ended with the ICO the following year. An initial offering raised 20 million, spent to finalize the project and debut on major cryptocurrency exchanges. In 2021, the price of Solana rose from almost $3, to the ATH of $260, becoming one of the most popular cryptocurrencies among DeFi users and enthusiasts.
The Solana protocol is designed to facilitate the creation of decentralized applications, also known as Dapps. The goal is to improve the scalability of blockchain technology through an innovative consensus system for transactions. The platform uses Proof-of-Stake, but integrates it with Proof-of-History, a mechanism that orders transactions more efficiently. Like Ethereum, Solana also allows the development of smart contracts, but at a lower cost. Possible applications range from NFTs and DeFi transactions to entertainment and gaming. For all these reasons, many people are constantly wondering whether to buy Solana (SOL).#SolanaPriceSurge #Solanaseason #SOLPriceAnalysis $BTC $USDC
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You don't have to be a genius to make big profits in the bull market.
Success will come to those who choose the right projects now and exercise patience.
#BTC #Solanaseason
You don't have to be a genius to make big profits in the bull market.
Success will come to those who choose the right projects now and exercise patience.
#BTC #Solanaseason
#write2earn #Solana Network Update: Tackling #Congestion & Enhancing Performance #solanaUpdate #Solanaseason $SOL
Version 1.17.31 marks the beginning of a planned series of updates aimed at tackling recent network congestion issues.
The Solana network has been grappling with congestion problems over the past few months, particularly amidst the surge in popularity of meme coins, which led to a sharp increase in user activity and a significant rise in demand for network resources.
Solana developers have announced a new software update designed to address these congestion issues, which is now recommended for general use by mainnet validators. This update, labeled v1.17.31, contains improvements aimed at easing the ongoing congestion on the Solana Network.
Rex St John, head of developer relations at Anza, the team behind Monday's update, emphasized that this release is just the first step in a series of planned updates to mitigate network congestion.
Validators, responsible for running nodes or software to confirm transactions and secure the blockchain network, play a crucial role. They must regularly update their nodes to newer releases to effectively manage any issues that may arise during network operation.
The surge in user activity, particularly driven by meme coin trading, led to a spike in transactional volumes, reaching as high as $4 billion in March compared to the typical figures of under $500 million per day in 2023.
The increased usage of bots also contributed to a rise in "failed" transactions on the Solana network. These failed transactions were flagged by smart contracts as "bad requests," despite being successfully submitted to the network.
To address these challenges, the final version of the update prioritizes transactions from reputable validators with significant stakes. This prioritization ensures that validators with higher stakes receive better service quality, preventing lower-quality validators from maliciously overwhelming the network with transactions.
Version 1.17.31 marks the beginning of a planned series of updates aimed at tackling recent network congestion issues.
The Solana network has been grappling with congestion problems over the past few months, particularly amidst the surge in popularity of meme coins, which led to a sharp increase in user activity and a significant rise in demand for network resources.
Solana developers have announced a new software update designed to address these congestion issues, which is now recommended for general use by mainnet validators. This update, labeled v1.17.31, contains improvements aimed at easing the ongoing congestion on the Solana Network.
Rex St John, head of developer relations at Anza, the team behind Monday's update, emphasized that this release is just the first step in a series of planned updates to mitigate network congestion.
Validators, responsible for running nodes or software to confirm transactions and secure the blockchain network, play a crucial role. They must regularly update their nodes to newer releases to effectively manage any issues that may arise during network operation.
The surge in user activity, particularly driven by meme coin trading, led to a spike in transactional volumes, reaching as high as $4 billion in March compared to the typical figures of under $500 million per day in 2023.
The increased usage of bots also contributed to a rise in "failed" transactions on the Solana network. These failed transactions were flagged by smart contracts as "bad requests," despite being successfully submitted to the network.
To address these challenges, the final version of the update prioritizes transactions from reputable validators with significant stakes. This prioritization ensures that validators with higher stakes receive better service quality, preventing lower-quality validators from maliciously overwhelming the network with transactions.
