Solana Rallies to $105 as Governance Vote Looms
Solana's price has reached its highest level since January 31st, trading near $105 on Thursday. The token surged by approximately 8% during the session, making it the strongest performer among large-cap digital assets.
The wider market moved with Solana, as Bitcoin returned to $80,000 and Ether reclaimed $2,550. XRP also recovered towards $1.45, lifting the combined value of the market to about $2.78 trillion.
The uptick in Solana's price follows seven consecutive days of inflows into U.S. spot ETFs, with Morgan Stanley's MSOL product accounting for $5.51 million of the total $9.14 million on August 26th.
A closing vote by validators on three proposals covering governance, issuance, and network fees may influence Solana's price in the coming days. One proposal would double the annual disinflation rate from 15% to 30%, removing about 18.9 million SOL from scheduled emissions over the next six years.