Solana Hits $105 as Governance Vote Looms

Solana's price climbed to $105 on Thursday, its highest level since January 31, after a 7% surge in value. The token led gains among large-cap digital assets and was accompanied by increases in other major cryptocurrencies.

The influx of U.S. spot Solana ETFs contributed to the rise, with Morgan Stanley's MSOL product accounting for $5.51 million of the $9.14 million invested on August 26. This marks the seventh consecutive day of inflows, with a cumulative total near $1.26 billion.

The increase comes as validators vote on three proposals, including one that would double the annual disinflation rate and another that reworks resource fees, which could lead to a significant supply squeeze. According to Anton Kharitonov of Traders Union, the advance is due to technical momentum layered on governance activity.