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Solana records first green monthly candle in 11 months as SOL surges 46%
After ten consecutive red months, Solana's August rally to $103 signals a potential turning point driven by ETF inflows and on-chain governance milestones
Solana just did something it hasn’t done since September 2025: close a month in the green. SOL surged roughly 46% in August, ending near $103 after enduring ten straight months of red candles that dragged the token from its all-time high to cycle lows.
The rally peaked at around $110.38, a level SOL hadn’t touched since January 2026.
The long road down, and back up
SOL hit its all-time high of approximately $294 in January 2025. From October 2025 through July 2026, every single monthly candle closed red. Ten in a row. The token eventually bottomed out around $60, shedding roughly 75% of its peak value.
August’s close near $103 represents a roughly 70% recovery from those cycle lows. The gap between $103 and $294 is still enormous, roughly a 185% climb.
ETF inflows and institutional appetite
Cumulative inflows into Solana exchange-traded funds reached $1.34 billion, providing a significant source of buying pressure throughout the recovery.
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The standout performer was Bitwise’s BSOL ETF, which crossed $1 billion in assets under management during August.
A previously dormant whale wallet accumulated approximately 76,856 SOL from Hyperliquid, a position worth roughly $8 million at August prices.
Governance comes to Solana
August also brought a genuinely significant development on the protocol side: Solana’s first binding on-chain governance vote. Known as SGP-0002, the vote marked a milestone in Solana’s evolution toward decentralized decision-making.
What comes next
On the other side of the ledger, SOL’s 46% monthly gain came fast. The gap between the August peak of $110.38 and the monthly close near $103 hints that sellers were already active at higher levels.