Solana Price Holds Steady Above $110 After Transaction V1 Upgrade
Solana's price held steady above $110 on Saturday after experiencing a significant 10.8% jump in value to a seven-month high, fueled by the launch of its larger Transaction V1 format on mainnet and a broader crypto rebound.
The upgrade to Transaction V1 increases the maximum transaction size to 4,096 bytes from 1,232 bytes, giving developers room to place larger zero-knowledge proofs and multisignature instructions into one transaction. This could remove awkward workarounds and make complex financial applications easier to build.
While the increase in transaction size is notable, it does not automatically guarantee more fees or demand for SOL. Applications and wallets still have to support the new format, and users must choose services that need it.