Altcoin Strength Ahead: Solana Upgrade and BNB Momentum
The altcoin market is facing challenges but some projects are continuing to expand their use cases and develop new products, drawing attention from investors.
One such project is Solana (SOL), which is preparing for its Agave 4.2 upgrade. This upgrade will reduce slot times from around 400 milliseconds to 350 milliseconds, with the long-term target of 200 milliseconds. Storage costs are also expected to decrease by about 90% through several stages.
Solana has seen significant growth in recent weeks, with $8.8 million in daily net ETF inflows, the strongest amount since May 12th. The project's payment activity is also growing, with July reportedly becoming a record month for Solana crypto-card spending, reaching around $69.5 million.
Michaël van de Poppe believes SOL needs to hold its current support area of $73.5-$74 for the price targets toward $120 to remain intact.