According to U.Today, Solana (SOL) is showing signs of recovery as it breaches the $150 resistance point. The latest data from CoinMarketCap reveals that Solana has increased by 1.81% in the past 24 hours, with its current trading price at $157.08. This recovery comes after a period of network congestion that had been hindering the cryptocurrency's growth.
Solana's network has been in a state of uncertainty due to this congestion. However, recent updates suggest that Solana's block production has returned to normal, with an average block time of two seconds. According to SolanaFloor, all 409 transactions were confirmed on the Solana network, indicating a restoration of network health. This rebound could potentially lead to an increase in demand for SOL.
The network congestion had forced several projects that had planned their launches on Solana to reconsider. Some projects even halted their debuts until the network issues were resolved. With the latest block production update, it appears that Solana is ready for a resurgence.
Solana was created with the aim of enhancing both enterprise adoption and retail embrace. When the congestion issues threatened to derail its growth, co-founder Anatoly Yakovenko and other innovators within the ecosystem proposed solutions to fix the problem. A significant breakthrough was achieved earlier this month when a major fix was deployed on the testnet by the core Solana team. Other validator clients, such as Anza, also created patches that contributed to the overall improvement of the Solana blockchain.
The ecosystem is now looking towards a promising future, as indicated by the more than 24.5% increase in trading volume to $3,142,785,397.
