Solana Price Surges as Institutional Funds Pour In

Solana's price has surged 26.38% in the last month, driven by institutional endorsement and rising on-chain activity.

The altcoin season index has been steadily climbing over the past month, contributing to Solana's rally.

To reach its next target of $160, Solana must maintain above the $115 support zone, where 26 million coins previously exchanged hands.

Institutional funds are pouring into Solana, with sustained inflows into Solana spot ETFs culminating in a $47.3 million influx on September 18.

The network's demand is increasing, as evidenced by a steady decline in exchange supply and the creation of roughly 11 million new addresses per day.