Why Did Solana Price Soar Today?

Exchanged hands for US$42.96 (+8%) this Thursday (2), SOL reached a price peak of around 18% in the last few hours. The altcoin rally managed to boost the rise of Bitcoin (BTC), which hovered around US$34,900 (+1%), following the announcement of the deployment of L1 Solana blockchain nodes on the Amazon Web Services cloud computing service platform (AWS), an arm of the e-commerce giant Amazon.

24-hour chart of the SOL/USD pair. Source: CoinMarketCap

The partnership was revealed in a live presentation at Solana Breakpoint 2023, an event that began last Monday (October 30) and ends next Friday (3), in Amsterdam, capital of the Netherlands, and the Netherlands.

Partnership was announced during Solana Breakpoint 2023. Image: Disclosure/Fundação Solana

According to the Solana Foundation, with the availability of nodes through the code application infrastructure in the AWS Blockchain Node Runnes repository, interested companies can now deploy their own consensus nodes and remote procedure calls (RPC) in order to connect their decentralized applications to blockchain.

“This represents a step forward for the Solana ecosystem. The expertise required to run a node has dropped significantly, making it easier than ever to deploy to Solana,” said Solana Foundation Executive Director Dan Albert.

In a statement, the Solana Foundation listed Solana validators with the following commands available in the AWS Blockchain Node Runnes repository: consensus nodes, basic RPC nodes (without secondary indexes) and extended nodes (with secondary indexes).

“We are excited to see Solana blockchain nodes available for deployment on AWS to leverage the best of your blockchain workloads to increase accessibility to innovative cloud-native technologies like the decentralized web [Web3]”, evaluated Nikolay Vaslov, solutions architect at Blockchain Nodes Services, at AWS.

The Solana Foundation added that cloud-based nodes are ideal for large traditional financial companies or Web3-native projects that want to utilize many nodes and don’t have the infrastructure or financial resources to build them themselves.

The partnership with AWS also helped SOL to be among the top five altcoins, two main cryptocurrency projects that rose up to 90% in October, as reported by Cointelegraph Brasil.