SOL (Solana) rose 13.60% in 24 hours.

Gate News Bot News, on October 13, according to CoinMarketCap, as of the time of publication, SOL (Solana) is currently priced at $197.28, with a rise of 13.60% in the last 24 hours, a peak of $237.32, a low of $173.52, and a 24-hour volume of $11.824 billion. The current market capitalization is approximately $107.828 billion, an increase of $12.91 billion compared to yesterday, currently ranked 6th.

Solana is a high-performance blockchain platform that provides developers with fast, secure, and scalable infrastructure. It supports various Web3 application scenarios, including payments, gaming, NFTs, DeFi, and DAOs. Solana features a block time of 400 milliseconds and the ability to process thousands of transactions per second, with transaction fees under $0.0025. The network is validated by thousands of independent nodes, ensuring data security and censorship resistance. Solana also employs an environmentally friendly proof-of-stake mechanism, with the energy consumption of each transaction equivalent to just a few Google searches.

Important news about SOL recently:

1️⃣ Solana network performance significantly improved In a recent large-scale liquidation event, the Solana network experienced its largest stress test to date. While maintaining complete stability, the network reached a record 100,000 TPS. The Solana validator client Agave successfully handled peak traffic that was more than 6 times the normal, and fully processed blocks with a capacity of 60 million CU, showcasing the network's strong performance and stability.

2️⃣ Institutional investors continue to allocate SOL Multiple institutional investors are actively investing in SOL. The US-listed company DeFi Development has announced that it will distribute special dividends in the form of warrants, with an expected funding of $73.5 million to acquire SOL. Another Solana treasury company, Helius, has its executive chairman stating that the company's goal is to purchase at least 5% of the total supply of SOL and plans to go public in Hong Kong. These actions indicate that institutional investors are optimistic about the long-term prospects of SOL.

3️⃣ Solana ecosystem continues to expand The Web3 fantasy sports platform Sorare announced its migration from StarkEx to Solana to enhance transaction speed and cost efficiency. Meanwhile, MetaMask plans to launch multi-chain accounts at the end of October, which will support the Solana network. These initiatives will bring more users and application scenarios to Solana, further expanding its ecosystem scale.

From a technical perspective, SOL has shown a strong upward momentum recently, but it also faces some pullback pressure. Investors need to closely monitor market trends and potential risks.

This message is not an investment advice, and investors should pay attention to market volatility risks.