Solana maintains a price near $105 as traders observe a key support area and anticipate a significant network improvement. Grayscale, a major digital asset manager, reported that Solana processed an average of over 1,400 transactions per second (TPS) so far this year, surpassing other leading blockchain networks by a wide margin.
Alpenglow upgrade seeks to boost speed
The upcoming Alpenglow upgrade is expected to be a major step for Solana, aimed at reducing transaction finality time from around 13 seconds to 150 milliseconds. Grayscale stated that this performance leap could strengthen Solana’s advantage in transaction speeds over competitors like BNB Chain and other blockchains.
According to Grayscale, BNB Chain averaged under 200 TPS in the year to date, while other blockchains handled about 40 TPS. High throughput has been central to Solana’s value proposition by enabling it to process a significantly higher volume of transactions at speed.
| Network | Average TPS | Transaction Finality (current) | Projected Finality (Alpenglow) |
|---|---|---|---|
| Solana | 1,400+ | 13 seconds | 150 milliseconds |
| BNB Chain | <200 | Varies | N/A |
| Other blockchains | ~40 | Varies | N/A |
Transaction throughput refers to the number of transactions a blockchain can process per second. Increased throughput can help blockchains support a higher volume of user activity, but actual results depend on network demand and technical conditions.
Solana’s average transaction fee this year has been around $0.005, contributing to the network’s appeal for users who prioritize low-cost transactions.
Finality is the point at which a transaction becomes irreversible on the blockchain. The anticipated reduction to 150 milliseconds through the Alpenglow upgrade would significantly shorten the time users wait for confirmation, though this speed has not yet been achieved and represents a target following the upgrade.
Grayscale indicated that Solana’s Alpenglow upgrade may reduce finality to 150 milliseconds, setting a new benchmark for blockchain speed.
Grayscale also observed strong activity in Solana’s stablecoin payments sector, with the network processing approximately 25% of all stablecoin transactions over the past three months. This market share exceeded that of any other blockchain network in the same period.
Improvements in speed and low costs could support payment applications or services requiring rapid settlement and minimal fees, potentially making Solana attractive to both users and developers.
Mini dictionary: Grayscale, a US-based digital asset investment company, manages several large cryptocurrency funds and regularly publishes industry research.
$80–$95 support zone under scrutiny
Technical traders are monitoring SOL’s price action closely. Don, a well-known crypto analyst, noted that SOL recently stabilized above $100 after experiencing resistance at a descending trendline. He views the $80-$95 region as a crucial support zone for the asset, with price maintaining strength above this area indicating potential resilience.
A long-term ascending trendline from 2023 offers additional context, marking an area to watch for possible pullbacks. Don suggests that holders should monitor breaks above or below these levels for indications of the market’s next move.
If SOL moves above the descending trendline, Don identifies $166 and $378 as potential upside targets. A drop below $80-$95 would weaken the bullish outlook.
SOL’s price is currently trading at $104.84, according to CoinGecko, with a 24-hour trading volume of $2.66 billion. Over the past 24 hours, the token has declined 1.29%, and it is down 4.41% on the week.
While robust network performance can encourage adoption, analysts noted that network activity alone does not guarantee future price appreciation for SOL. Investors typically scrutinize both technical structure and network fundamentals when assessing the asset’s outlook.
