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Crypto

Solana Breaks Downtrend with 46% August Rally on Institutional Support

Guavy AI Editorial Team
Instruments
SOL
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After a ten-month losing streak, Solana (SOL) broke out of its downtrend with a 46% rally in August. The cryptocurrency's price peaked at $110.38 on August 27, its highest level since January.

The SOL ETFs in the United States have attracted $1.34 billion in total net inflows since their October debut, with Bitwise's BSOL product surpassing $1 billion in assets under management.

Charles Schwab announced it will introduce spot SOL trading to its 39 million brokerage users, while Defi Development Corp. acquired 19,000 SOL tokens at an average entry price of $98.14.

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