- At the time of writing, SOL is trading at $134, up 3.14% in the last 24 hours.
- If the price manages to go above $139 resistance level, then it will likely test $142 level.
Austin Federa, Head of Strategy at Solana, has announced a new feature called ZK Compression, which significantly lowers the cost of on-chain account storage and increases blockchain efficiency. This innovation reduces transaction costs by 5,200 times, addressing a major hurdle for institutional and mass-market applications by lowering hardware costs and enhancing blockchain speed.
In related news, digital asset management firm 3iQ has applied to list its Solana exchange-traded product on the Toronto Stock Exchange, potentially making it the first of its kind in North America.
Despite a brief positive divergence, Solana remains in a short-term negative trend, with resistance around the $140 zone. Currently, SOL is trading at $134, up 3.14% in the last 24 hours, though trading volume has decreased by 17.27%. If SOL surpasses the $139 resistance level, it may test $142. Conversely, if it falls below $129, it could head towards the $121 support level.
