According to ChainCatcher, reported by CoinDesk, Solana (SOL) has risen 33% since the beginning of August, outperforming major crypto assets like Bitcoin and Ethereum. Analysts point out that the token has benefited from cryptocurrency investors shifting profits away from BTC and ETH.
In terms of price, SOL's recent trading price is around $210.07, which is a 33% rise from the low point in early August. Compared to Bitcoin, SOL has risen 34% in the past month, and compared to Ethereum, it has increased by 14% since mid-August. Analyst Jeff Dorman stated that with up to $2.6 billion in treasury funds flowing in, SOL could replicate ETH's rise.
In addition, Dorman mentioned that at least three digital asset treasuries focused on Solana are raising funds, and are expected to invest up to $2.6 billion in SOL over the next month.
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