Solana Crosses the 100 Billion Transaction Mark
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At the time of writing, the total number of transactions on the SOL network sits at 101.17 billion, with an average transaction per second (TPS) of 2,531 and an average cost of $0.00025 per transaction.
This remarkable achievement comes in the face of performance challenges suffered by the network in recent times. That said, analysts have been quick to link the current performance to the network’s founding values of being a high transaction speed and low-cost smart contract platform.
Downtimes and network operation challenges have become an all-too-familiar occurrence on Solana. Anatoly Yakovenko, Solana co-founder, recently stated that he believes network outages are the primary ‘curse’ of the network. Speaking at a recent YouTube podcast, Yakovenko noted:
“This is our biggest challenge, which is maybe the one that I like to have because of all these challenges that are coming because we have users on the chain daily.”
Since its inception in 2020, the SOL network has suffered seven large disruptions, with five of these network outages occurring this year.
Key Solana Levels to Watch — September 26
Solana is on the verge of retesting the critical $34.00 range top in the late North American session on Monday, as the broader crypto market struggles to find its footing.
The cryptocurrency has traded within the $34.00 and 30.50 range for the past few weeks with seemingly no relief in sight. That said, a bullish candle close above the $34.00 mark in the coming hours could signal a strong bullish presence and prompt a retest of the $38.90 monthly top.
However, failure to do so would simply restrict the cryptocurrency within its range into October.
Meanwhile, my resistance levels are $34.00, $36.00, and $38.00, and my support levels are $32.00, $30.50, and $29.00.
Total Market Capitalization: $937.1 billion
Solana Market Capitalization: $11.9 billion
Solana Dominance: 1.27%
Market Rank: #9
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