Solana [SOL] just lately confronted backlash from the crypto group due to the outages within the second half of 2021 and first half of 2022. These mishaps raised a number of questions from the Web3 group associated to the reliability of the blockchain.
Nonetheless, in a current report revealed by Solana, a couple of factors had been talked about that steered that the blockchain’s reliability was unhurt. As an illustration, community uptime stands as an vital issue to grasp a blockchain’s reliability, and SOL’s uptime was over 99% persistently. Moreover, the blockchain even touched the 100% mark in July 2022, which was commendable.
2022 trying good
The report additionally talked about a number of upcoming tasks and plans for Solana that seemed fairly promising for the community. Solana revealed that there are plans to make QUIC the default transaction ingest and forwarding protocol on Mainnet-beta beginning with the 1.13.4 validator consumer launch. Moreover, this launch was presently dwell on most validators and RPC nodes in Mainnet-beta.
Curiously, in keeping with the report, Solana’s testnet, on 22 September, exceeded its earlier file for transaction throughput by surpassing 24,000 transactions per second.
All these developments had been mirrored on SOL’s chart because it turned one of many prime gainers within the Solana ecosystem during the last seven days.
High Gainers in @Solana Ecosystem Final 7D 🚀🚀$SAMO @samoyedcoin $SUSHI @sushiswap $SOL @solana $SCNSOL @SoceanFinance $GMT @stepnofficial $MEDIA @Media_FDN $SRM @projectserum $AUDIO @AudiusProject
$C98 @coin98_wallet $ATLAS @staratlas #Solana $SOL pic.twitter.com/q2COiViHoi— Solana Day by day (@solana_daily) October 31, 2022
In line with CoinMarketCap, at press time, SOL was buying and selling at $32.66 with a market capitalization of greater than $11.7 billion. Buyers may need even higher days forward because the market indicators had been in favor of a continued value surge within the coming days.
Cheering on the bulls…
SOL’s day by day chart painted a bullish image for the token because it revealed the opportunity of a continued uptrend within the coming days. The Exponential Shifting Common (EMA) Ribbon displayed that the bulls would possibly quickly depart the bears behind. The chart additionally revealed that SOL bulls could achieve a bonus out there because the 20-day EMA was quick approaching the 55-day EMA.
The Relative Power Index (RSI) registered a really slight uptick, which was a bullish sign. Moreover, SOL’s Cash Circulate Index (MFI) was additionally resting above the impartial mark. Nonetheless, the Chaikin Cash Circulate (CMF) witnessed a slight downtick. This will act as a barrier in SOL’s uptrend.