Solana (SOL) has posted 30-day features of practically 81%, and has rallied over 30% previously week amid the testnet launch of the blockchain’s loawaited scaling resolution Firedancer.
SOL reached over $41 on Nov. 2 touching highs it hasn’t seen since August final yr, Cointelegraph Markets Professional data exhibits.
SOL-related funding merchandise have additionally seen millions of dollars worth of inflows over the previous weeks in line with CoinShares. SOL is, nevertheless, nonetheless down round 84% from its Nov. 6, 2021, all-time excessive of virtually $260.
On Oct. 31 at Solana’s Breakpoint convention, Solana Basis government director Dan Albert announced the testnet launch of Firedancer which Web3 improvement agency Bounce Crypto has been building since last August.
Firedancer is a brand new validator shopper for the community which Solana Labs founder and CEO Anatoly Yakovenko has stated is aimed at increasing speed, reliability and validator range. Its slated mainnet launch is within the first half of 2024.
Firedancer has been dubbed the long-term repair to Solana’s previous community outage issues which Yakovenko called a “curse.”
Solana suffered 14 partial or main outages in 2022 however its uptime improved in 2023 with solely one major outage, reported in February.
Nevertheless, there are considerations that promoting stress may hit SOL as $56 million price of the cryptocurrency tied to FTX was unstaked and sent to an unknown pockets. A further $32 million price of SOL linked to FTX and Alameda Analysis additionally moved to a pockets suspected to be the corporations’ designated liquidator Galaxy Digital.
Different altcoins additionally noticed sturdy worth rallies over the month as crypto market sentiment turned constructive. On Nov. 2 the Crypto Worry and Greed Index jumped six factors from the day earlier than to 72 out of 100 — reflecting a sentiment of “greed.”
Chainlink (LINK) noticed an over 54% acquire within the final 30 days. In the meantime, Bitcoin (BTC), Avalanche (AVAX) and Close to Protocol (NEAR) posted 30-day features of 30%, 32% and 37.5% respectively.