Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»ALTCOIN NEWS»Solana rises 8% in 24 hours: Is the new network upgrade the reason?
ALTCOIN NEWS

Solana rises 8% in 24 hours: Is the new network upgrade the reason?

By Crypto FlexsApril 15, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Solana rises 8% in 24 hours: Is the new network upgrade the reason?
Share
Facebook Twitter LinkedIn Pinterest Email
  • The project notes that MainnetBeta’s v1.17.31 update will address congestion issues.
  • The price of SOL has risen, but on-chain activity has slowed.

After days of waiting, Solana (SOL) has finally released an update that addresses network congestion.

According to an update via Solana Status, validators on MainnetBeta can now use the v1.17.31 upgrade, which includes the boost needed to fix congestion issues.

Post showing Solana has solved the congestion problem

Source: X

No more blockages.

For a while, users were having trouble completing transactions on Solana. According to research by AMBCrypto, the development is primarily due to the increase in the number of memecoins on the blockchain.

While the problem persisted, Solana began analyzing the proposed fix on April 12. At the time, Anza, the network’s developer store, released the v1.18.1 testnet upgrade to this effect.

Network assessments show that Solana is fully functional and has achieved an uptime of 99.77% over the past 90 days.

Meanwhile, now seemed like a good time to resolve the matter. This is because the value of SOL and memecoins on the network has increased in the last 24 hours.

At press time, SOL’s value had increased by 4.68%. Bonk (BONK), a dog-themed network meme coin, soared, followed by DogwigPart (WIF).

Considering that updates may increase demand for the token, the price of SOL is likely to rise further. Despite the potential, it is important to evaluate the feasibility of on-chain.

Solana’s active addresses have declined, according to data from TheBlock. At the time of this writing, there were 1.17 million active addresses. This is a noticeable decrease compared to the first week of April.

Solana active addresses experience delays while congestion issues are resolvedSolana active addresses experience delays while congestion issues are resolved

Source: The Block

Additionally, Solana blockchain explorer Hello Moon showed that the number of assets being moved on the chain remains low.

Are users willing to ask for more SOL?

At the same time, it is too early to assume that the resolution’s impact will be immediate. If network activity continues to decline, your SOL may not spike as expected.

On the other hand, an influx of active users can improve the value status of a token. Another metric that AMBCrypto investigated was Total Value Locked (TVL).

At press time, Solana’s TVL was $3.68 billion. This value has decreased by 22.83% over the last 7 days. TVL is an indicator of the health of the project.

Data showing Solana's TVL declineData showing Solana's TVL decline

Source: DeFiLlama

An increase in the indicator means an increase in locked assets. But a decline means less liquidity being put into returns.

Therefore, this decline means that market participants have refrained from adding assets to the blockchain’s protocol.


Realistic or not, WIF’s market capitalization at SOL is as follows:


However, the situation may change depending on the market’s reaction to the recent upgrade.

TVL can be increased as users test and ensure that their network is functioning and running at peak performance. If the opposite were true, users could continue to deplete Solana’s liquidity.

Next: 10% rise in TON in 24 hours could upset DOGE, but the race is not over.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto EXEC is not the end of the rally.

July 24, 2025

Shib or PEPE: What memes coins are cut to the top 10 first?

July 17, 2025

The PBK Miner uses XRP mining to start a stable and efficient income method to easily earn $ 18,000 a day.

July 10, 2025
Add A Comment

Comments are closed.

Recent Posts

Forexus drops NFT coins -the public stage is sold in a few minutes.

July 27, 2025

Using XRP Cloud To Mine BTC And DOGE, Helping Investors Obtain Stable Daily Income

July 27, 2025

Safe and expandable MCP server development: Main strategies and best practices

July 27, 2025

Cardano (ADA) flashes optimistic signals. Did the meeting just started?

July 26, 2025

DL Mining Launches In The U.S.

July 26, 2025

Ripple CTO’s amazing regret for censorship

July 26, 2025

Ether Leeum validation exit exit queue will explode with 521,000 ETH ATH.

July 26, 2025

Wake’s GMX Hacking Analysis and Attack Scenario

July 25, 2025

Pepeto Announces $5.5M Presale And Demo Trading Platform

July 25, 2025

$75K In Rewards Announced For Valhalla’s First-Ever Tournament

July 25, 2025

Bitcoin Market Bullish? DL Mining Launches $100 Bonus + Sustainable Cloud Mining

July 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Forexus drops NFT coins -the public stage is sold in a few minutes.

July 27, 2025

Using XRP Cloud To Mine BTC And DOGE, Helping Investors Obtain Stable Daily Income

July 27, 2025

Safe and expandable MCP server development: Main strategies and best practices

July 27, 2025
Most Popular

Is the Bitcoin price downtrend over or is the downtrend not yet over?

April 15, 2024

Ethereum price is firming up as indicators suggest a rise towards $2,800.

January 12, 2024

All about Revolut Exchange and its latest cryptocurrency plans for UK customers

May 8, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.