Crypto
Solana Soars Past $110 Amid Record ETF Inflows
Solana's price surged past $110 on August 28 as institutional demand and adoption drove record-breaking inflows into the Bitwise Solana Staking ETF (BSOL). The token has gained 19.8% over the past week, sitting at its highest level since January 31.
The BSOL fund posted a record single-day trading volume of over $126 million on August 28, breaking Monday's previous record. Cumulative net ETF inflows now stand near $1.26 billion, accounting for approximately 2.2% of Solana's market cap.
DeFi Dev Corp, the company behind Solana's treasury operations, has resumed buying SOL, acquiring 19,000 tokens at an average price of $98.14. This purchase brings their total holdings to over 2.33 million SOL, valued at approximately $182 million.