Solana Ends 10-Month Losing Streak with August Gains

Solana's price has finally turned green after 10 months of being in the red. The platform saw its first monthly gain in August, marking a significant shift from its previous performance.

This change is attributed to the increasing activity on Solana, particularly in the areas of real-world assets (RWAs) and memecoins. The platform's RWA ecosystem has reached a new all-time high (ATH) of $4.35 billion, while the number of RWA holders on the network has surpassed 420,000.

Solana's dominance in the memecoin market is another key factor contributing to its recent growth. The platform accounts for approximately 67% of multichain memecoin volume, outperforming competitors like Robinhood and BNB Chain.