Solana Soars as ETF Inflows Rise and Network Activity Surges

Solana's price has rebounded strongly after defending its psychologically important $100 level, resulting in a 44% gain over the past 30 days. The token's market activity has increased sharply, with trading volume rising by 64% to $3.5 billion over 24 hours. This represents almost 6% of Solana's circulating market capitalization.

The rebound indicates that demand for Solana remains resilient despite uncertainty surrounding the US interest-rate outlook and ongoing tensions between the White House and the Federal Reserve. Despite a renewed possibility of tighter monetary policy, cryptocurrency prices continued to advance. Several altcoins posted significant weekly gains, including Zcash and Uniswap, which rallied 41% and 37%, respectively.

Institutional demand continues to support Solana's recovery, with $SOL-linked exchange-traded funds recording their 10th consecutive week of positive net inflows. The decline in inflows during September suggests investors have become more cautious following the token's recent rally. However, continued inflows could help strengthen support around current levels and improve the chances of a sustained move toward $120.