Solana (SOL) Nears All-Time High as TPS Upgrade Hints at 1,000x Boost
Solana’s native token, SOL, is approaching its previous all-time high of $260.06, as news emerges about significant enhancements to the network’s transactions per second (TPS). Mert Mumtaz, CEO of Solana infrastructure provider Helius, revealed details about a planned upgrade expected to increase Solana’s TPS by up to 1,000x.
In a post on X (formerly Twitter), Mumtaz shared that his team initially aimed to keep the upgrade under wraps, but recent market momentum prompted the announcement. The Helius team has reportedly developed a performance optimization system that has shown promise on Solana’s testnet, achieving a massive boost in TPS without altering the blockchain’s core structure. Currently, Solana processes about 65,000 transactions per second.
“I’ve tried to keep quiet about this, but we’ve been working on a new system BTS for Solana that has shown promise in testnet to scale TPS by 1,000x (!), while not making any core breaking changes,” Mumtaz posted.
Increasing bandwidth and reducing latency are key components of Solana’s roadmap, and if the upgrade delivers as anticipated, SOL’s price could rise further.
SOL’s Recent Market Performance
SOL has been on a strong upward trend, fueled by bullish sentiment in the cryptocurrency market. CoinMarketCap data shows a 3.13% gain over the last 24 hours, with trading volume up 26.76% to $11.32 billion. The token has surged 34.27% in the past week, 47.26% over the last 30 days, and 268.02% since November 2023. Now only 15.48% below its peak from November 2021, SOL appears poised for a new record high before year-end.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should exercise caution and perform their own research before taking any action based on the content provided.
