Solana (SOL) is set for a significant surge as the community celebrates a crucial update that addresses major congestion issues on the mainnet. The latest release, version v1.17.31, is now live for MainnetBeta validators, sparking excitement among users.
Over recent years, Solana has grappled with severe congestion, leading to disruptions for applications and investors alike, tarnishing its reputation. The congestion worsened with the proliferation of meme coins on the blockchain, propelling Solana ahead of Ethereum in trading metrics but also straining network performance. The newly deployed v1.17.31 upgrade is highly recommended for all MainnetBeta validators, featuring enhancements specifically designed to ease congestion on the Solana Network.
Solana has confirmed that this fix directly targets the ongoing congestion issues, which had previously led to delayed project launches and concerns about network stability. The concerted efforts of developers and validator clients, such as Anza, on the testnet have contributed significantly to addressing these network challenges.
In response to the congestion fix, the price of SOL has surged by 9.24% in the past 24 hours, reaching $154.43. While this growth follows a broader market recovery, the restoration of normalcy and increased trust in Solana’s network stability are expected to fuel long-term growth for the coin.
Currently ranked as the fifth-largest digital currency by market capitalization, Solana is poised for increased demand with its revitalized network, contributing to a potential supply crunch that could drive prices even higher in the near future.