Solana Price Rally Hits 40% in Eight Days, Targets $100
Solana's price has been on the rise, increasing by nearly 40% in just eight days. On August 26, its price was $97.08, according to CoinMarketCap.
This surge is attributed to a combination of factors, including record network activity and rising tokenized assets. In July, the Solana network processed 4.2 billion on-chain transactions, a monthly record that represents a 13.5% increase from June.
Distributed real-world assets (RWA) on Solana also reached $3.97 billion on August 25, an 11.81% increase over the previous 30 days.
The immediate price prediction hinges on breaking through the $100 barrier, with a sustained close above that level removing the nearest round-number resistance. However, failure to do so could lead to a return of attention toward the $93 to $94 support range or even lower, potentially weakening the current setup.