Most market belongings had been overshadowed by Tron’s current ascent. Solana (SOL) has been having an ideal yr following its 600% progress. However the asset took a backseat this month following an 18% drop. At press time, SOL was buying and selling at $143.59, with no main fluctuations all through the previous 24 hours.
The asset was battling with Binance Coin (BNB) for the fourth spot on the cryptocurrency ladder. Presently, SOL’s market cap is $66.94 billion, making it the fifth largest cryptocurrency. BNB’s market worth is $84 billion.
Optimistic Developments within the Solana Community
Many had been shocked by Solana’s worth rut, contemplating the optimistic developments within the community. The Brazilian authorities has been embracing belongings like Solana by approving spot exchange-traded funds (ETFs).
Whereas the US is lagging behind, Brazil was seen rolling out a number of Solana-based ETFs. Whereas the asset has not witnessed a serious rise submit this information, the group is hoping for a bullish finish to this difficult month.
How Will Solana Finish The Month of August 2024?
It looks as if Solana could have a gradual finish to the turbulent month of August. In response to information from Changelly, SOL will commerce across the similar stage within the coming week. The altcoin will commerce at $142.81, a slight fall from its present worth zone.
Meme Coin Popcat’s Market Affect
Whereas SOL appears to be on the sidelines, a meme coin known as Popcat has made fairly some noise out there.
Potential Rise in Solana Market
With the concentrate on this meme cryptocurrency, the group is ready to witness a possible rise within the Solana market.
The U.S. authorities’s ETF efforts round SOL might increase the altcoin worth.
