Solana closed August in the green for the first time in eleven months, with SOL surging roughly 46% to end near $103. The rally follows ten straight red monthly candles that dragged the token down from its all-time high, and it coincides with rising ETF inflows and Solana's first binding on-chain governance vote.
Solana broke a losing streak that had defined its entire year. The token closed August up roughly 46%, ending near $103 — its first green monthly candle since September 2025. During the month, SOL peaked at around $110.38, a level it hadn't touched since January 2026.
Ten red months, then a reversal
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 — and the token eventually bottomed out around $60, shedding roughly 75% of its peak value. August's close near $103 marks a roughly 70% recovery from those cycle lows, though the gap back to $294 still represents a roughly 185% climb.
ETF inflows drove the buying pressure
Cumulative inflows into Solana exchange-traded funds have reached $1.34 billion, providing a significant source of buying pressure through the recovery. Bitwise's BSOL ETF was the standout performer, crossing $1 billion in assets under management during August. Separately, a previously dormant whale wallet accumulated approximately 76,856 SOL from Hyperliquid, a position worth roughly $8 million at August prices.
A first for Solana's governance
August also brought a shift on the protocol side. Solana held its first binding on-chain governance vote, known as SGP-0002, marking a milestone in the network's move toward decentralized decision-making.
Yet the rally's speed leaves questions open. The gap between the August peak of $110.38 and the monthly close near $103 hints that sellers were already active at higher levels, even as SOL notched its first winning month in nearly a year.
Source: Crypto Briefing
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