• Solana’s TPS remained stable as activity on the network increased.
• Social volume around SOL grew, overall sentiment around the token declined.

Solana [SOL] was one of the networks that dominated the bull run which the market saw recently.

Solana sees a rise in transactions

However, one of the main criticisms of the Solana network has been the downtime that Solana faced over the last few years.

A recent upgrade to the Solana network, version 1.18, has yielded significant performance improvements.

While some known limitations within the transaction processing pipeline persist, current benchmarks indicate Solana is nearing a processing throughput of 2,000 transactions per second (tps) in real-world conditions. 

Projecting future performance based on current advancements, helius CEO mert held an optimistic view.  He stated that Solana has the potential to surpass 10,000 tps by the start of the new year.  

Looking at price movement

Despite the progress made by the network, SOL’s price continued to see red. At press time, SOL was trading at $148.77 and its price declined by 1.87% in the last 24 hours.

Since the 20th of May, the price of SOL has fallen significantly. During this decline, the price of SOL exhibited lower lows and lower highs, indicative of a bearish trend.

Even though the overall trend of SOL had turned bearish, the CMF (Chaikin Money Flow) for SOL remained positive. This meant that there was money flowing into SOL at the time of writing.

Moreover, the OBV (On Balance Volume) for SOL also surged which was another positive indicator for the token. If things continue to move in a positive direction, a reversal could be expected and SOL could attain the $174.54 levels yet again.

Volumes for SOL surged

The popularity of the SOL token was also on the rise. AMBCrypto’s analysis of Santiment’s data revealed that the social volume for SOL remained consistent over the last few days.

The rising popularity of SOL can help improve the price movement of SOL in the long run. However, the sentiment around SOL can also affect the token.

Data showed that the weighted sentiment around the SOL token fell materially. This meant that the number of negative comments around SOL had grown and outnumbered the positive ones.

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The prevalence of these negative comments may hinder the chances of growth for SOL in the future.

Polygon (MATIC) is witnessing surging community and developer exercise within the second quarter of 2022 regardless of the continued crypto bear market.

Polygon is a scaling answer that goals to allow the widescale adoption of decentralized apps on the Ethereum (ETH) blockchain.

The Polygon chain is now house to five.34 million distinctive addresses, a 12% improve from the primary quarter of the yr, in accordance to the mission’s Twitter account. Second quarter transactions additionally elevated by 4%, and the common value of transactions fell by fell 49% to $0.018.

Moreover, the nonfungible token (NFT) market OpenSea witnessed 1.2 million new non-fungible tokens (NFTs) come on-line on Polygon in Q2.

Developer exercise can also be skyrocketing: The community added a mean of 1,000 new contract creators a day in Q2. That brings the mission’s whole to 90,514, “greater than triple the tempo of progress” of Q1, in accordance with Polygon. Moreover, a mean of two,700 new contracts went reside on the mission’s chain every day.

Polygon was additionally lately chosen by the Walt Disney Firm to take part in its new 2022 Disney Accelerator program.

The accelerator provides chosen corporations “entry to the vary of inventive experience and assets of The Walt Disney Firm to assist them develop new leisure experiences and merchandise,” in accordance with this system’s web site.

Polygon’s native token, MATIC, is buying and selling at $0.95 at time of writing. The Twelfth-ranked crypto asset by market cap is up almost 10% previously 24 hours.

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