What you need to know about Solana’s latest update

Please fol­low and like us:
Pin Share


  •  The num­ber of stak­ers increased by more than 1,800% last week.
  • SOL’s mar­ket indi­ca­tors were bull­ish, sug­gest­ing a fur­ther price pump.

Solana [SOL] has approved a new update for its val­ida­tors named v1.14. After a major­i­ty of net­work users decid­ed to upgrade to the new ver­sion on 22 May, v1.14 was con­sid­ered to be adopt­ed by the cluster.

The good news was that, as per SOL’s tweet, the lat­est net­work update has been adopt­ed by more than 97% of the Solana validators. 

Here are the details

As per the offi­cial announce­ment, ver­sion 1.14 unlocks a num­ber of high­ly antic­i­pat­ed new fea­tures on the Solana blockchain that will be acti­vat­ed over time. 

With the help of this release, Solana devel­op­ers can col­lect recent­ly paid trans­ac­tion fees and use that data to esti­mate future trans­ac­tions. This func­tion­al­i­ty will also help devel­op­ers to ful­ly uti­lize local­ized fee mar­kets that will be added in future updates.

The new update also brought new changes to SOL’s stak­ing pro­gram. If val­ida­tor gov­er­nance approves, this release pro­vides the ground­work for apply­ing the min­i­mum required stake del­e­ga­tion and intro­duc­ing a new RPC to access the exist­ing min­i­mum stake delegation. 

The update also involves opti­miz­ing caching. 

It was inter­est­ing to see that the num­ber of SOL stak­ers increased expo­nen­tial­ly last week. As per Stak­ing Rewards, the num­ber of SOL stak­ers increased by more than 1,800% in the last sev­en days. 

Source: Stak­ing Rewards

SOL’s price chart turns green

Apart from val­ida­tors, SOL investors also had a com­fort­able week, as evi­dent from its price action. Accord­ing to Coin­Mar­ket­Cap, SOL’s price increased by more than 6% in the last sev­en days.

At the time of writ­ing, it was trad­ing at $21.09 with a mar­ket cap­i­tal­iza­tion of over $8.3 bil­lion. The bull­ish price action also helped SOL increase its pop­u­lar­i­ty as its social vol­ume went up. 

Sen­ti­ment around SOL also turned pos­i­tive on 29 May 2023, but lat­er the weight­ed sen­ti­ment dipped. 

Source: San­ti­ment


Read Solana’s [SOL] Price Pre­dic­tion 2023–24


This suggests a further pump in Solana’s price

A look at SOL’s dai­ly chart revealed that most of the mar­ket indi­ca­tors were in the bulls’ favor. For instance, the MACD clear­ly dis­played a bull­ish edge in the market.

SOL’s Chaikin Mon­ey Flow (CMF) reg­is­tered an uptick, fur­ther increas­ing the chances of a con­tin­ued price surge. How­ev­er, the Rel­a­tive Strength Index (RSI) chose to fol­low the oth­er route and declined, which can be troublesome. 

Source: Trad­ingView



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *