Solana attracted attention with its performance in the crypto market this year. It became the center of attention especially with the increasing popularity of Solana-based meme coins. However, in the recent market crash, the altcoin suffered serious losses. However, perhaps everything is just beginning for Solana! According to former Ark Invest analyst and crypto investor Chris Burniske, Solana has the potential to regain market leadership.
According to the analyst, this altcoin has strong bull potential!
cryptokoin.comAs you’ve been following from , the crypto market is trying to recover from the recent crash. However, escalating geopolitical tensions continue to put pressure on risk assets. During this period, Solana, a strong rival of the leading altcoin Ethereum, also saw deep losses. The cryptocurrency value dropped to $115. In other words, it saw a sharp price drop of 20% from its pre-crash value. Despite this, its resilience at key support levels has sparked debate about SOL’s potential to climb higher in the market.
Former Ark Invest analyst and crypto investor Chris Burniske is optimistic about Solana. The analyst suggests that Solana, although it has faced difficulties, can become a strong bull. Burniske predicts that the abundance of extremely high-volatility meme coins will play a role in this.
Solana’s latest update solves network overload!
In a recent announcement on X, the Solana team unveiled v1.17.31, which has been approved for widespread adoption by MainnetBeta validators. Validators are responsible for validating transactions and ensuring the security of the Blockchain network. So they need to constantly update nodes to the latest versions. Thus, they will be able to overcome the network problems that have arisen recently.
This release includes improvements specifically designed to address persistent congestion issues that users have recently raised on the Solana Network. The network has faced congestion issues recently. The meme coin craze, which particularly swept the crypto industry, played a major role in this. This increase in user activity has created a significant increase in demand on the network. Version 1.17.31 marks the first release in a series of planned updates aimed at resolving network congestion observed in recent months.
What has changed in Solana’s upgrade v1.17.31?
Rex St John, head of developer relations at Anza, shared details about this update. Anza, a Solana-focused development firm known for developing tools such as Solana client Agave, is actively involved in Solana’s ecosystem. According to Rex, this rollout marks the first wave of Solana main-net congestion updates that users have been eagerly awaiting. In particular, he clarified that this version is not version 1.18, which will be followed by additional improvements.
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