Solana (SOL) Surges 17% as Breakpoint Conference Sparks Investor Interest

• Solana (SOL) has surged significantly following the kick-off of the Solana Breakpoint.
• SOL surged 17% beginning from the eve of the Solana Breakpoint conference.
• Xandeum will unveil its blueprint for scaling Solana storage during the event.

Solana (SOL) has surged significantly since the start of the Solana Breakpoint, a crypto conference hosted by the Solana Foundation. The conference, showcasing numerous experts discussing current and future developments in the Solana ecosystem, features two stages running simultaneously, the Left and Right Curve.

Conference organizers have scheduled events and programs by assigning presenters to specific “Curves.” As a result, attendees choose specific curves based on the projects they are interested in. Solana Breakpoint also offers a live-streaming service, enabling viewers worldwide to follow the event.

Solana Breakpoint 2024 Captures Global Attention

Recognized as one of the biggest crypto conferences, particularly due to Solana’s growing prominence in the industry, the Solana Breakpoint 2024 has garnered considerable attention from the global tech sector. Some innovators are taking advantage of the conference to launch new products and share their future plans.

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One example is Xandeum, an L1 smart contract platform for developing Web3 applications. Xandeum recently announced it would utilize the Solana Breakpoint Conference to reveal its blueprint for scaling Solana storage. The project committed to sharing details of its new storage-enabled liquid staking program and officially announcing the launch of the XAND token.

Importantly, Xandeum and other projects in the Solana ecosystem have piqued users’ interest, leading to increased interest in Solana, as reflected in the blockchain’s native crypto’s price behavior. Many analysts attribute SOL’s recent price surge to growing bullish sentiment tied to the ongoing conference.

SOL Price Jumps 17%

In the meantime, SOL has surged over 17% since the eve of the Solana Breakpoint 2024 conference. The scalability-focused blockchain’s native crypto bounced off local support at $127.08 on September 18 to trade for $149.08 at the time of writing, according to data from TradingView. 

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The recent surge coincided with a break above the 0.382 Fibonacci resistance on the altcoin’s daily chart, potentially paving the way for SOL to target the $160 resistance level. However, it would need to surpass the 0.5 Fibonacci level, around $152, on its upward trajectory.