Solana's Transaction V1 Upgrade Fails to Boost Price Amid Bearish Momentum

Solana's network upgrade to Transaction V1 format on September 15 has increased its maximum transaction size from 1,232 bytes to 4,096 bytes.

This technical improvement enables developers to build more complex and data-intensive applications, including those using zero-knowledge proofs, larger multisignature configurations, and advanced decentralized-finance operations.

Despite the upgrade, Solana's SOL token remains under short-term selling pressure, with several indicators pointing to a possible retest of support at $94.16.