Solana has completed a major speed upgrade. On October 9, the network cut its slot time from 400 milliseconds to 200 milliseconds, which means blocks are now produced twice as often and transactions get their first confirmation much faster.
The upgrade is good news for trading apps, games and payment apps built on Solana, because users wait less time after sending a transaction. It is also separate from the bigger Alpenglow upgrade planned for later, which aims to make final confirmation even faster.
But the SOL price has not celebrated yet. SOL is trading near $109 to $110, down about 8 percent in the last week, even after a strong September when Solana processed a record 10.7 billion transactions and its price gained more than 14 percent.
Money is also leaving the funds for now. U.S. spot Solana ETFs recorded an outflow of about $3.8 million on October 9, ending a long 14-week run of inflows. This shows big investors are careful this week while they wait for the U.S. inflation (CPI) data.
For traders, the picture is mixed: the network is getting faster and stronger, but the price is still under pressure below its recent averages. Traders are watching whether SOL can hold near $108-$109 support and climb back, or whether ETF outflows and macro pressure push it lower first.
Read also: Altcoin Season Over? Big Warning for Ethereum, XRP and Solana Holders
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: CoinDesk, CoinStats, Pluang, Blockchain.News
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