Solana gains 80% in a month as Firedancer goes live on testnet

Solana (SOL) has actually published 30-day gains of almost 81%, and has rallied over 30% in the past week amidst the testnet launch of the blockchains loawaited scaling option Firedancer.SOL reached over $41 on Nov. 2 touching highs it hasnt seen since August in 2015, Cointelegraph Markets Pro information shows.Long promoted as an “Ethereum killer”– SOL has actually vastly exceeded its rival Ether (ETH) which posted under 11% gains in the past month.Three-month SOL rate chart with gains up almost 81% in 30 days. Source: Cointelegraph Markets ProSOL-related financial investment products have also seen countless dollars worth of inflows over the past weeks according to CoinShares. SOL is, nevertheless, still down around 84% from its Nov. 6, 2021, all-time high of practically $260. On Oct. 31 at Solanas Breakpoint conference, Solana Foundation executive director Dan Albert announced the testnet launch of Firedancer which Web3 development firm Jump Crypto has actually been developing because last August.Firedancer is a brand-new validator client for the network which Solana Labs founder and CEO Anatoly Yakovenko has stated is intended at increasing validator, dependability and speed diversity. Its slated mainnet launch remains in the first half of 2024. Firedancer has actually been called the long-term repair to Solanas previous network interruption issues which Yakovenko called a “curse.” Solana suffered 14 partial or significant interruptions in 2022 but its uptime improved in 2023 with just one significant outage, reported in February. There are concerns that selling pressure could strike SOL as $56 million worth of the cryptocurrency tied to FTX was unstaked and sent out to an unidentified wallet. An additional $32 million worth of SOL connected to FTX and Alameda Research likewise moved to a wallet presumed to be the firms designated liquidator Galaxy Digital.Related: VanEck anticipates a 10,600% Solana rate rally by 2030Other altcoins likewise saw strong cost rallies over the month as crypto market belief turned favorable. On Nov. 2 the Crypto Fear and Greed Index jumped 6 points from the day before to 72 out of 100– showing a belief of “greed.” Chainlink (LINK) saw an over 54% gain in the last 30 days. Meanwhile, Bitcoin (BTC), Avalanche (AVAX) and Near Protocol (NEAR) published 30-day gains of 30%, 32% and 37.5% respectively.Magazine: BitCulture: Fine art on Solana, AI music, podcast + book evaluations