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Crypto

Solana Price Surges 3.8% Amid Macro Risk-On Factors and Institutional Demand

Guavy AI Editorial Team
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SOL
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The Solana (SOL) cryptocurrency price surged by 3.8% in the last ~15 hours, driven by a combination of macro and institutional factors.

The move is attributed to the overall crypto market relief rally following the US Federal Reserve's decision to raise interest rates by 25 basis points to a 3.75-4.00 percent target range.

This decision was seen as manageable for risk assets, with multiple market summaries noting that crypto rallied after the announcement, with aggregate crypto market cap up and altcoins leading gains.

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