Solana Breaks Drought with First Green Candle in 10 Months

Solana's price has finally turned green after a prolonged period of decline. The cryptocurrency had been stuck in the red for almost a year, but August brought some much-needed relief with a single month of gains. This positive trend is powered by the monthly MACD, which is nearing a bullish crossover at press time. Furthermore, Solana's RSI has broken a downtrend that lasted nearly two years.

The Solana ecosystem has also seen significant growth, with its real-world assets (RWAs) reaching a new all-time high of $4.35 billion in total value. This milestone places Solana among the top chains for tokenized assets, despite competition from Ethereum and other major players.

The platform's memecoin trading volume has also seen a significant boost, with Solana accounting for 67% of multichain memecoin volume on September 7th. This is nearly three times the share held by Robinhood, which accounted for around 23%.