Solana Rebounds 20% from Lows as Network Upgrades Boost Usage Despite Stiff Ethereum Competition

Solana price rallied 20% between Sept 28 - Oct 6, recovering from FTX bankruptcy liquidation lows.

Network upgrade to v1.16 brought improvements to privacy, security and validator efficiency.

Solana's DApp and NFT activity surged, surpassing Polygon in sales volume.

Stiff competition remains from Ethereum layer-2 solutions like Arbitrum and Optimism.

Investors still largely focused on Ethereum ecosystem as the leader in developers and apps.