Solana's native token, SOL, saw a 5% increase in value on May 27, trading up from $161 to $171. This rise has sparked investor optimism, especially as SOL had reached $188.90 just days earlier. A key factor in this upward trend is a proposal aimed at boosting yields for validators rather than burning tokens. On May 27, Solana's validators approved the SIMD-0096 proposal, which eliminates the 50% burn rate on priority transactions. However, some analysts believe SOL's recent price adjustment is a reaction to a decline caused by the approval of an Ether (ETH) exchange-traded fund (ETF) in the United States. Despite these developments, Solana's network activity remains sluggish compared to Ethereum and its layer-2 solutions.
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