Breaking: Solana Releases v1.17.31 Mainnet Update to Fix Congestion, Price & OI Jumps

Solana has rolled out an update on mainnet beta to fix the ongoing congestion issues on the network. Solana ecosystem tokens prices and sentiment dropped after the recent congestion issues on the network causing 75% of transactions to delay or fail.

Solana Releases Mainnet Update for Congestion Issues

In an April 15 post on X, Solana Status revealed the v1.17.31 release for the Solana network mainnet update. Mainnet Beta validators are required to update with the release to prevent further congestion issues on the Solana network.

The release is stable and suitable for use on Mainnet Beta. This release contains “enhancements which will help alleviate the ongoing congestion on the Solana Network.”

Solana-focused devshop Anza, also deployed v1.18.11 release to devnet. The update will fix the recurrent congestion issues on Solana chain. Anza said primary concern regarding network congestion has been identified to stem from a QUIC implementation and the behavior of the Agave validator client.

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SOL price increased by 15% from the 24-hour low of $133.79 to a high of $155.04 amid latest updates. Solana has recovered nearly 35% from $116 during the crypto market crash last week.

In addition, total Solana futures open interest has also jumped more than 6% in the last 4 hours and over 3% in 1 hour, indicating massive buying by derivatives traders.

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