After Software Upgrade Increases Validator Profits, Will Solana Breakout at $1,000?
A crypto market surge helped Solana (SOL) burst over $200 and reach an intra-day high of $204.
After Donald Trump won a second term, digital assets rose.
In response, Bitcoin achieved a record high of $77,000, with experts predicting $100,000 by 2025. This political move has boosted Solana and other cryptocurrencies.
After a network update enhanced transaction efficiency and reward distribution, validator income increased to $30 million daily, supporting Solana's surge.
Upgraded Solana Network Drives Validator Earnings and SOL Price Growth
Solana's native token, SOL, rose over $200 for the first time since 2021 due to network upgrades.
Daily validator profits have risen to $30 million from $22 million in September, reviving network interest. With the recent software update, v2.0.14, transaction validators are earning more.
With “maximal extractible value” (MEV) incentives and a new scheduler that improves transaction processing, validators may now process transactions faster.
Despite a lower validator count of 1,358 than a year ago, recent enhancements have added 58 nodes since late September.
Increased validator profits and network improvements boost Solana's growth prospects.
The Daily Technical Outlook: Solana (SOL/USD) - November 9, 2024
Solana's bullish momentum is reaching a key challenge at $200.88, the 161.8% Fibonacci extension barrier.
A tense hammer pattern at this zone suggests tiredness, suggesting a corrective pullback.
SOL/USD might rise to the next Fibonacci objective at $211.66, with support at $183.44 cushioning any dip.
