Solana Soars as Institutional Demand and Network Activity Rise

Solana's price surged by 44% over the past month as it defended its crucial $100 support level.

The token rebounded strongly from this support, triggering a sharp increase in market activity. Trading volume rose 64% to $3.5 billion, representing almost 6% of Solana’s circulating market capitalization.

Despite uncertainty surrounding the US interest-rate outlook and tensions between the White House and the Federal Reserve, demand for Solana remains resilient.

The probability of a September rate increase rebounded to 58% following stronger-than-expected US employment data. However, cryptocurrency prices continued to advance despite this possibility.

Several altcoins posted significant weekly gains, including Zcash (41%) and Uniswap (37%). Institutional demand continues to support Solana’s recovery, with SOL-linked exchange-traded funds recording their 10th consecutive week of positive net inflows.