Solana Surges Above $160 🚀
Solana (SOL) has surged 8% in the last 24 hours, trading above $160, following a 24% increase from $129 on August 6. This rise has boosted SOL’s market cap to $74.42 billion, making it the fourth-largest cryptocurrency.
A key factor behind the surge is Brazil’s approval of the first spot Solana ETF, which is expected to attract significant capital inflows. Additionally, Solana has outperformed Ethereum with a 60% year-to-date increase, reaching an all-time high against ETH on August 8.
Increased network activity, marked by a spike in transactions, further supports Solana’s price rise. Looking ahead, SOL may climb to $190, though failure to maintain key support levels could lead to a decline.
