Solana’s price finally turns green after 10 months — What next?
RWA and memecoin markets have been growing strength to strength.
Activity across Solana [SOL] is at pace. In fact, as it stands, real-world assets (RWAs) and memecoins are in the spotlight too!
Hence, the question – Is Solana’s price [SOL] all set go to the moon?
First green candle in 10 months!
After flashing red on the charts for almost a year, Solana finally finished a month in the green in August.
The new gains were powered by the monthly MACD, with the same getting quite close to a bullish crossover at press time. SOL’s monthly RSI also broke a downtrend that stayed unmoved for nearly two years!
This implied that the pace has most definitely started to improve.
However, one must note that SOL is still well below its previous highs. One green candle does not confirm the change of any tides.
Even so, after months of pressure, this is something market bulls can work with.
There’s more to the turnaround…
Solana’s RWA ecosystem also crossed $4.35 billion in total value; that’s a new ATH.
The number of RWA holders on the network also climbed over 420,000.
These numbers place Solana among the market’s biggest chains for tokenized assets. This, despite the fact that the likes of Ethereum [ETH] compete for the same market.
Solana takes 67% of multichain memecoin volume
The platform also saw about 67% of spot DEX memecoin volume across tracked chains on 7th September. That was nearly 3x Robinhood’s 23% share.
BNB Chain accounted for another 9%.
Memecoin trading has always been one of Solana’s strongest sources of on-chain activity. If this continues, it could keep transaction demand and liquidity up across the board.
Final Summary
- August was Solana’s first green monthly candle in 10 months.
- Solana’s RWA value hit $4.35 billion, with the network accounting for 67% of multichain memecoin volume now.
