Solana Price Drops Amid Record Network Activity and $1B ETF Inflow

Solana's price fell by 3.27% in the past 24 hours to $98.79, but on-chain activity reached a new all-time high with 5.2 billion non-vote transactions processed in August.

The network milestone comes as Bitwise's spot ETF for SOL, BSOL, crossed the $1B mark in cumulative net flows since launch, according to Arkham data from September 1.

Despite the price drop, fund inflow data suggests continued institutional interest in Solana, which has historically not always moved in tandem with short-term price fluctuations.