Solana Surges on Network Upgrade and Institutional Demand

Solana's price surged by 3.68 percentage points within a 10-hour window due to several key factors.

The main catalyst was a network speed upgrade implemented on Solana's mainnet on September 18, which reduced slot times from 300 ms to 250 ms, increasing block frequency by 17 percent.

This upgrade aimed to improve confirmation latency and market structure for traders and decentralized finance (DeFi) applications.

In addition to the network upgrade, institutional accumulation also played a significant role in Solana's price increase. Large, long-term demand for SOL around $100 helped explain why dips were bought and the rebound could extend.

Nasdaq-listed DeFi Development Corp expanded its SOL treasury to 2.39 million SOL (about $253 million) and set up a $300 million at-the-market stock facility primarily to fund further SOL purchases.