Solana (SOL) posted its first green monthly candle in August 2026, breaking a ten-month losing streak that began nearly a year earlier. Alongside this shift in price action, technical indicators have begun to show changes, with the monthly MACD nearing a bullish crossover and the monthly RSI breaking a downtrend that had lasted for close to two years. Despite the improvements, analysts note that SOL remains well below its previous highs and that a single green month does not confirm a full trend reversal on its own.
Real-World Assets Reach New All-Time High
In addition to market activity, Solana's real-world asset (RWA) ecosystem reached a new all-time high, crossing $4.35 billion in total value. The milestone was shared by analytics account SolanaFloor on X. Furthermore, the number of individual wallets holding RWA tokens on the network climbed past 420,000, positioning Solana among the largest networks for tokenized assets in competition with chains like Ethereum.
Memecoin Volume Dominance
Solana also maintained a leading position in spot decentralized exchange memecoin volume. Data from September 7 showed that Solana captured approximately 67% of multichain memecoin volume among tracked chains. This figure was nearly three times the share held by Robinhood at 23% and BNB Chain at 9% on the same day. Memecoin trading continues to serve as a primary source of on-chain activity, helping to maintain transaction demand and liquidity across the network.
