Solana Price Jumps 7% On Bitcoin And Ethereum ETF Approvals, Network Congestion Update
Summary
Solana's price recovered due to positive developments in Bitcoin and Ethereum markets, alongside ETF approvals in Hong Kong. An update, v1.17.31, aims to address network congestion issues caused by an implementation bug. The update's adoption is crucial for mitigating congestion. Solana's price surged by over 7% after the update's release and ETF approvals in Hong Kong. Despite the surge, SOL's trading volume decreased by -44.70% in the last 24 hours. The current trading price of $151.40 presents a hurdle, with $170 as the next significant resistance. The $130 mark has proven to be a strong support level for Solana.
