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In Brief Solana faces a potential bearish outcome, risking a significant drawdown in price. Investor support is lacking, which could worsen the current downtrend for Solana. If SOL breaks $ launched a mainnet beta update, v to handle network congestion that occurred early last week amid soaring meme coin transactions. What Happened: The Solana Set to be rolled out mid April, it brings a transaction scheduler, allowing validators to “efficiently and economically” fill blocks, according to a post by the Solana Foundation. Solana has been Hace 5 horas Solana (SOL) fell more than 5% over the past 24 hours, rattled by geopolitical tensions and waning memecoin activity on its network. The token dropped from $163.72 to a Now, Solana developers have set a mid-April network update as SOL is confronting a potential 17% price correction. Users have faced increased transaction failures Solana developers said a new software update to tackle the congestion problem on the popular blockchain is “now recommended” for general use by mainnet

Solana Sets Mid-April Network Update as SOL Faces Potential 17% Drop

Solana (SOL) is navigating turbulent waters. While developers prepare to roll out a crucial network update in mid-April, the cryptocurrency is facing a potential 17% price correction. This comes as Solana fell more than 5% over the past 24 hours, rattled by geopolitical tensions and waning memecoin activity on its network, dropping from $163.72 to a lower point. Users have reported increased transaction failures, highlighting existing network congestion issues.

Addressing Network Congestion: The Mid-April Update

Now, Solana developers have set a mid-April network update to address these challenges. In Brief, Solana faces a potential bearish outcome, risking a significant drawdown in price. Investor support is lacking, which could worsen the current downtrend for Solana. If SOL breaks below critical support levels, further declines are possible. This update, which includes a transaction scheduler, is aimed at handling the network congestion that occurred early last week amid soaring meme coin transactions. What Happened: The Solana Foundation believes this update will allow validators to “efficiently and economically” fill blocks, according to a post. This is crucial for maintaining network stability and improving user experience.

Mainnet Beta Update: A Recommended Solution

Solana developers said a new software update to tackle the congestion problem on the popular blockchain is “now recommended” for general use by mainnet. The mainnet beta update, v1.17.31, is designed to alleviate the transaction failures that have plagued the network recently.

SOL Price Analysis: A Potential Bearish Outlook

Solana has been confronting these challenges amidst broader market uncertainty. Hace 5 horas Solana (SOL) fell more than 5% over the past 24 hours, rattled by geopolitical tensions and waning memecoin activity on its network. The token dropped from $163.72 to a lower value. The upcoming network update is critical for restoring confidence in the Solana blockchain and potentially mitigating further price drops. However, the market's reaction will depend on the effectiveness of the update and the overall sentiment surrounding SOL.

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