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Solana Hits 60M CU Upgrade as McCann Leads $1.5B SOL Bid
Solana has officially activated a massive 60 million compute unit (CU) upgrade, marking a significant milestone for the Solana ecosystem’s scalability and growth. This development comes alongside Joe McCann, CEO of Asymmetric Financial, leading a staggering $1.5 billion bid to purchase approximately 7.32 million SOL tokens.
The recent upgrade aims to increase network capacity while enhancing speed, setting the stage for larger-scale usage. With this enhancement, Solana is poised to become a leading Layer-1 chain for financial applications, as it addresses congestion issues and maximizes real-time scalability.
Solana has executed the 60M CU block limit via proposal SIMD 0256. The successful rollout occurred at block number 355,021,513 on July 22nd, accompanied by a seamless transaction signed under ID 5AUueyKu2i3EGPgzC.
The upgrade’s timing could not be more crucial as Solana’s treasury landscape is about to undergo a reshaping. With McCann’s $1.5 billion plan to purchase approximately 7.32 million SOL tokens, the current market conditions pose questions on whether Solana’s growth is fueled by short-term buying or institutional-scale activity.
Source: cryptotale.org
