Solana's SOL Token Slides Below Key Moving Averages Amid Protocol Upgrade Plans

Solana's SOL token is trading at $102.76, down 2.3% for the session and near its daily low.

The token's price has been sliding below its key short- and medium-term moving averages, with muted volatility accompanying the downward move.

In related news, Solana will increase its maximum transaction size to 4,096 bytes and add support for zero-knowledge proofs, extended multisig, and confidential transfers in a forthcoming protocol upgrade.

The upgrade aims to position the ecosystem for more complex applications and future on-chain activity.

Institutional flows are also supporting Solana, with $193 million in net new ETF inflows over the past month.