Solana (SOL) ended August with a positive monthly price movement, marking the first green candle in ten months. The improvement was reflected in technical indicators, with the monthly MACD approaching a bullish crossover and the monthly RSI breaking a downtrend that had persisted for nearly two years.
Despite the monthly gain, SOL remains well below its previous price highs, and a single green candle does not confirm a sustained reversal.
Real‑world asset growth
The network’s real‑world asset (RWA) ecosystem reached a new all‑time high, with total value locked climbing to $4.35 billion. The number of RWA holders also increased to over 420,000, positioning Solana among the leading blockchains for tokenized assets alongside competitors such as Ethereum.
Memecoin trading activity
On 7 September, Solana accounted for approximately 67% of spot decentralized exchange (DEX) memecoin volume across tracked chains, nearly three times the share held by Robinhood’s 23% and well ahead of BNB Chain’s 9%.
Memecoin trading has historically been a strong source of on‑chain activity for Solana, and continued volume could support transaction demand and liquidity on the network.
Summary
- August delivered Solana’s first green monthly candle in ten months.
- The RWA ecosystem reached a record $4.35 billion in value.
- Solana captured 67% of multichain memecoin volume on spot DEXs.
