Solana Implements Transaction V1
Solana has activated Transaction V1, increasing transaction size limits from 1,232 bytes to 4,096 bytes. The network upgrade is designed to support larger data payloads, proofs, and cross-chain operations. Additional network updates are anticipated, including the Alpenglow upgrade scheduled for October, which aims to further reduce transaction finality times.
Network Metrics and Adoption
Real-world asset holders on Solana surpassed 400,000, showing growth from under 10,000 earlier in the year. Meanwhile, balances inside Solana applications reached a year-high above $175 million, according to data from SolanaFloor and Cryptonews. The network has also added millions of new addresses daily, leading to significant inflows of real-world assets over a 30-day period.
Price Levels and Outlook
SOL recently traded near $104 with a 4.34% increase over the week, holding support levels near $101 and $94.40. Market analysts note potential breakout levels near $105.67, with longer-range resistance targets observed at $123 and $132. September projections from CryptoRank reference a potential target of $150, dependent on continued network activity and upcoming protocol releases.
Token Presales and Market Activity
Alongside developments on major layer-1 networks, various token presales continue to attract market attention. Projects such as Pepeto report surpassing $10.9 million in their ongoing token presale stages, offering features including zero-fee swap platforms, cross-chain bridges, and token security scanners as traders look for alternative transaction environments.
