Solana Whales Bet Big Ahead of Network Upgrade
Solana's upcoming network upgrade is causing some excitement in the crypto market. Despite a bearish futures market, whales have opened $9.11M in long positions ahead of the Sept. 9 upgrade.
The upgrade will triple Solana's maximum transaction size from 1,232 bytes to 4,096 bytes, potentially reducing a structural bottleneck and improving its position against Ethereum (ETH).
Crypto Tony argued that the larger transaction limit could give Solana an advantage over Ethereum, which does not have a fixed protocol transaction-size limit.
The four-hour chart shows Solana at a technical decision point, with price moving inside a symmetrical triangle. A break below the lower trendline could send SOL toward $84, while a move above $107 resistance could imply a roughly 16% advance toward $124.