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- Solana (SOL) regained the $100 level for the first time in about six months after rising about 30% in four days.
- Expectations for a crypto-friendly U.S. government policy and spillover from Bitcoin into major altcoins including Solana lifted investor sentiment.
- U.S. spot Solana ETFs saw about $10.26 million in net inflows over a week, while a shorter mainnet slot time boosted expectations for improved network performance.
Forecast Trend Report by Period
Solana regained the $100 level for the first time in more than six months.
The token rose above $100 on Binance’s Tether market on Aug. 21. That marked a gain of about 30% from around $77 on Aug. 18. Solana was trading at $103 on the day, up 15% from a day earlier.
SOL traded above $100 for the first time since early February, ending a stretch of about six and a half months below that level. The token fell under $100 during intraday trading on Feb. 3 and slid to around $60 in June. It then moved sideways in the $70 range before accelerating this month.
Expectations for a crypto-friendly policy stance from the U.S. government lifted sentiment across the broader market. President Donald Trump said at a White House meeting that the government would pursue additional Bitcoin purchases. The U.S. Treasury’s plan to expand long-term bond buybacks also added to the mood. Expectations for lower Treasury yields and increased market liquidity spread from Bitcoin to major altcoins including Solana.
Inflows into spot Solana exchange-traded funds also supported the rally. U.S. spot Solana ETFs posted net inflows of about $10.26 million in the week ended Aug. 14. That was about 70 times the level of the previous week. Expectations for better network performance also grew after Solana mainnet’s target slot time was reduced to 350 milliseconds from 400 milliseconds on Aug. 19.
#Spot ETF
#Crypto Regulation
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Source: en.bloomingbit.io