Solana Gains Momentum After Breaking $100 Threshold with Schwab Adding Support
Solana (SOL) has surged past the $100 level, rising by 8% in a single day and triggering over $21 million in short liquidations. Charles Schwab, one of the largest U.S. brokerages, announced it is now supporting Solana alongside Avalanche (AVAX) and Chainlink (LINK), signaling growing institutional adoption. Solana ETFs have seen seven consecutive days of positive net inflows totaling $104 million amid shifting investor sentiment following new SEC proposals for crypto regulation. The U.S. Treasury also plans to double bond buybacks in September, potentially influencing the Federal Reserve's monetary policy stance and indirectly supporting risk-on assets like cryptocurrencies. With a 66% increase in trading volume over the past day and an ongoing short squeeze, Solana is on track toward hitting $120 despite its RSI nearing overbought levels. Analysts suggest that if support at $100 holds, further gains could follow.
