Solana Eyes $120 Breakout as Inactive Wallets Surge 400%

Solana's price has surged by 12% over the last month, reaching around $77. This impressive gain has secured SOL's position as the strongest performer among top cryptocurrencies by market capitalization.

The cryptocurrency's daily trading activity totals $1.61 billion, with a modest decline in transaction volumes following recent price movements.

Capital flows into Solana-focused exchange-traded funds have shifted to positive territory this week, with BSOL attracting $5.83 million on July 21, its strongest single-day performance in two weeks.

However, July's momentum represents an 86% decrease compared to May, when Solana ETFs attracted $115 million while SOL was valued around $80.