[SOL price fluctuations during the second successful restart of Solana Devnet]
Recently, Solana has faced challenges due to network congestion issues, but developer Anza successfully redeployed the v1.18.11 update on the devnet and regained the market's attention. The successful restart of this update was confirmed by Solana's core developer 'starry' in a post on the X platform. This has raised optimism about the future of Solana as a major competitor to Ethereum, despite being widely criticized by the crypto community for network congestion issues.
At the same time, Anza’s v1.18.11 upgrade for Solana was originally intended to solve its on-chain congestion problem. The upgrade previously crashed due to a devnet-specific issue, but has successfully restarted today. In addition, Solana also launched a major update v1.17.31 on its mainnet beta, which aims to solve the ongoing network congestion problem and further enhance the market’s confidence in the platform’s efforts to solve the problem.
However, despite these updates, Solana’s native token, SOL, continues to face downward pressure. The price of SOL has declined by 1.88% in the past 24 hours and is currently trading at $142.61. Token prices show significant volatility, which is primarily influenced by the dynamics of blockchain developments aimed at preventing future network congestion.
Despite the current pressure on prices, the market is optimistic about the future price movement of the Solana network as it makes progress in improving its infrastructure. With the latest update, market expectations are that SOL may witness strong price dynamics in the near future.
