Solana (SOL) has seen a 30-day increase of nearly 81%, with a recent rally of over 30% following the testnet launch of its long-awaited scaling solution, Firedancer.
- SOL reached over $41 on Nov. 2, which is its highest point since August of last year.
- SOL has outperformed Ethereum (ETH), its rival, which only saw gains of under 11% in the past month.
- SOL-related investment products have received significant inflows over the past weeks.
On Oct. 31, Solana Foundation announced the testnet launch of Firedancer, a validator client aimed at increasing speed, reliability, and validator diversity. The mainnet launch is scheduled for the first half of 2024.
Firedancer is expected to address Solana’s past network outage problems and improve its overall performance.
However, there are concerns of selling pressure as a large amount of SOL tied to FTX was unstaked and sent to an unknown wallet.
Other altcoins, such as Chainlink, Bitcoin, Avalanche, and Near Protocol, also experienced price rallies in the past month.