Today, the cost of Solana has climbed by more than 2%, indicating that investors are becoming increasingly optimistic about this significant cryptocurrency. This uptick in price comes on the heels of an important announcement within the Solana community: the resolution of long-standing network congestion issues. As a result, users can now look forward to faster and more efficient transactions, leading to improved functionality for the Solana network.
Congestion Woes Resolved Boosting Confidence
The Solana community is thrilled as SolanaFloor announces the successful resolution of network congestion issues on Solana. For some time, users have dealt with frequent congestion leading to unsuccessful transactions and a declining user experience. However, Solana’s block production has now returned to normal, allowing transactions to be confirmed in under two seconds.
Significantly, Solana has reached an important milestone after encountering numerous obstacles in the past few months caused by network congestion. This setback led to project postponements and discontent among investors.
Over the course of the struggle to alleviate Solana’s SOL congestion issues, the team and community have tried various approaches. At first, proposed solutions from developers such as Anza and enhancements like Stake Weighted Quality of Service (SWQOS) didn’t suffice. Regardless, network congestion remained a significant challenge.
With the recent advancement bringing about significant improvements and technological fine-tuning, Solana is once again set to excel as a fast blockchain processing over a thousand transactions each second.
Raoul Pal Offers Bullish Forecast For Solana Price
As the SOL network overcomes the hidden challenges of congestion, experienced investor and Real Vision CEO Raoul Pal shares optimistic views on its price. In a recent conversation, Raoul Pal predicted that Solana’s value could reach between $800 and $1200 in the upcoming period. He also anticipates significant expansion prospects for this cryptocurrency.
Furthermore, he believes the price could reach $2000 at the peak of a bubble period, highlighting the significant potential of Solana. This perspective aligns with the general market excitement, as investors expect a bullish trend for Solana following its recent achievement.
Currently, the cost of Solana is climbing by 2.37%, reaching $157.92. At the same time, its trading volume has significantly increased by 24.17% to a total of $3.13 billion in the past day. It’s worth mentioning that during this period, Solana reached a peak price of $159.94 and a low of $153.74.
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2024-04-24 15:29