The Solana community faced a tough time when the network experienced congestion. However, they were able to get back on track after Solana devshop Anza restarted the v1.18.11 update, which had failed earlier. The next phase of the network restart, wherein Solana tried to alleviate the ongoing network congestion, received positive feedback in a post shared by SOL core developer Anza (starry) on Reddit. On the other hand, the devnet was successful with version v1.18.11 of the Solana token. However, SOL, the native token of Solana, experienced some volatility in terms of its price.
This gained noticeable attention for Solana’s main competitor, Ethereum, as investors remain hopeful about the future ventures of Solana after the backlash it received within the crypto community due to network congestion.
Devshop Anza v1.18.11 Update: A Deeper Dive
In addition, Anza, a devshop on Solana, released v1.18.11 to devnet, which looks to alleviate congestion problems on the Solana chain. Testnet validators were the first ones to upgrade to the latest version of the update to start monitoring and assessing the impact of the new congestion fixes.
On the flip side, the core dev in the post yesterday stated that the upgrade experienced devnet-specific problems, which eventually led to the crash. On the other hand, today is a day of reopening, and on the other, it is a day of restarting the community.
In the meantime, however, it must be said that this week, the platform has successfully implemented another network upgrade to the mainnet beta to resolve the congestion problems. On April 15, the Ethereum rival dismissed the v1.17.31 release as the network mainnet update for the Solana network, thus creating a positive atmosphere around Solana’s efforts to solve the dynamic cryptographic problems. In spite of that, the native coin SOL seems to be in a declining trend.
Solana (SOL) Price Tumbles
At the moment of writing, the Solana coin has gone down by 1.88% for the 24-hour period and currently trades at $141.94. The coin’s market chart depicts a very volatile movement, with the trading price both in positive and negative areas for the last day. The main factor that keeps the price of the cryptocurrencies at a fluctuating level is the ongoing development of blockchain technology aimed at solving network congestion.
Whilst the short-term price action of SOL would signal a very high level of pessimism in the network functionality, the broader price movement of SOL would clearly show that the crypto community has lost quite some confidence in the network. On the other hand, now that the v1.18.11 update for devnet has been rebooted successfully and the v1.17.31 release for the Solana network mainnet update has also gone live, traders are looking forward to witnessing a price increase for the token soon.
