Solana Shatters Transaction Records and Surges to Near $90

Solana's network has reached new heights in August, with over 112 million successful non-vote transactions in a single day. This marks a new all-time high for the network, following steady growth throughout the month.

The majority of these transactions were non-vote interactions, such as applications, transfers, and other on-chain activities. Tokenized equities on Solana have also seen significant growth, with the total circulating supply crossing $465 million. This represents a weekly all-time high for the network.

The increased activity on the network has been driven by the growing demand for tokenized assets. If this trend continues, it could lead to an increase in SOL's price as well, which has already reached nearly $88 at the time of writing. However, some analysts warn that the RSI (Relative Strength Index) was at 77, indicating that SOL is overbought and may be due for a short-term pullback.