Solana (SOL) has painted its short-term price indicators green in response to a recent breakthrough involving its blockchain network and Google Cloud. SOL launched a 15% rally when the cloud service provider revealed it will now function as a validator for the Solana network, temporarily allowing it to exceed the £35.16 mark.
However, as of press time, Coingecko tracking shows the currency has been unable to hold on to its gains, as it is currently changing hands at £31.43. Despite dropping about £4.39 in its current trading price, the altcoin is still up nearly 9% in the last seven days and 28% in the previous two weeks.
Month to date, the 10th largest cryptocurrency by market capitalization has climbed by 7.2%, but it is still a long way from its all-time high (ATH) of £228.49, which it reached on this day last year. Recently, German data center operator Hertzner pulled 1,000 Solana validators from its system, citing policy violations as the reason.
Despite this development, Anatoly Yakovenko, the blockchain network’s inventor and CEO, remained optimistic and certain that no further interruptions would be experienced by their clients until the end of the year.
He suggested that a new validator would be created to assist Solana in maintaining network uptime then there’s Google Cloud. It appears that the collaboration between Solana and Google Cloud is more than just the latter becoming a valuable and trustworthy blockchain validator.
The cloud service provider said it would collaborate with the DeFi network to bring a Blockchain Node Engine to the Solana Chain next year. The engine, frequently utilized by Ethereum developers, is a hosting service that makes it easier to access when linked to the network.
If this plan is implemented next year, the Solana network and its native token, SOL, will undoubtedly profit from increased accessibility, as increased transaction volumes will result in greater trading values for the crypto asset.