Solana Upgrades Gain Traction as Analysts Predict Price Recovery

DeFi Dev Corp has backed two Solana upgrade proposals that could reduce the SOL supply and increase token burns.

The first proposal, SIMD-0550, aims to speed up Solana's move to its planned 1.5% terminal inflation rate, reducing the amount of new SOL created by about 18.9 million tokens over the next six years.

The second proposal, SIMD-0553, introduces resource-based fees that will be burned, increasing daily burns from around 648 SOL to between 7,500 and 9,000 SOL at current network activity.

Crypto commentator Borovik believes Solana looks undervalued at around $73 and expects the price to return to $250 based on past market performance.