Daily News 19

Tag: Solana

  • Solana Price Rises for First Time in 10 Months: What’s Next for SOL?

    Solana Price Rises for First Time in 10 Months: What’s Next for SOL?

    Solana (SOL) is showing renewed momentum across multiple key metrics, with August marking the network’s first positive monthly close in nearly a year. The shift coincides with record-breaking growth in real-world asset (RWA) tokenization and continued dominance in memecoin trading volume.

    Technical Breakthrough: First Green Monthly Candle in 10 Months

    After flashing red on the charts for almost a year, Solana finally finished a month in the green in August. The gains were powered by the monthly MACD, which moved close to a bullish crossover at press time. Additionally, SOL‘s monthly Relative Strength Index (RSI) broke a downtrend that had remained intact for nearly two years.

    While this technical improvement signals a potential trend change, analysts caution that SOL remains well below its previous all-time highs. A single green monthly candle does not confirm a full trend reversal, though it provides a foundation for bulls to build upon after months of sustained selling pressure.

    RWA Ecosystem Hits $4.35 Billion All-Time High

    Solana’s real-world asset ecosystem crossed $4.35 billion in total value locked, setting a new all-time high. The number of RWA holders on the network also climbed above 420,000, placing Solana among the market’s largest chains for tokenized assets despite competition from Ethereum (ETH) and other Layer 1 networks targeting the same institutional market.

    Memecoin Volume Dominance: 67% of Multichain DEX Activity

    On September 7, Solana captured approximately 67% of spot decentralized exchange (DEX) memecoin volume across tracked chains. This figure nearly triples Robinhood’s 23% share, while BNB Chain accounted for another 9%.

    Memecoin trading has historically been one of Solana’s strongest drivers of on-chain activity. Sustained dominance in this sector could continue to support transaction demand and liquidity across the broader ecosystem.

    Key Takeaways

    • August 2024: First positive monthly candle for SOL in 10 months.
    • RWA Milestone: $4.35 billion total value locked, 420,000+ holders.
    • Volume Leadership: 67% share of multichain memecoin DEX volume (Sept 7).
  • Nike Launches on Solana via Sunrise Initiative

    Nike Launches on Solana via Sunrise Initiative

    Nike Enters Solana Blockchain Through Sunrise Initiative With Backpack Securities

    Nike has officially entered the Solana blockchain ecosystem through the Sunrise initiative, marking a significant milestone in the integration of traditional global brands into the cryptocurrency space. The announcement was made via a tweet from the official @solana account, confirming the collaboration with Backpack Securities as the project issuer.

    Strategic Move Leverages Solana’s Technical Advantages

    This collaboration aims to capitalize on Solana’s high-speed transaction processing and lower fee structure, positioning the network as an attractive platform for enterprise-level blockchain adoption. As digital asset infrastructure continues to mature, Nike’s involvement signals an accelerating trend where established corporations are embracing blockchain technology to enhance operational capabilities and expand their digital reach.

    Project Details and Market Context

    The Sunrise initiative is issued by Backpack Securities and designed to enhance user experience across the Solana platform. Nike’s entry reflects a broader shift toward mainstream adoption of digital assets, with the potential to attract a new wave of users to Solana’s growing ecosystem.

    Currently, Nike’s involvement with Solana does not show specific price movements or volume statistics, indicating the partnership remains in early adoption stages. However, market excitement surrounding the launch could drive increased interest in both brands and their associated digital ecosystems. Traders and analysts will be monitoring how this integration unfolds and its potential impact on market dynamics.

    Nike’s Blockchain Strategy

    As a leading global brand in athletic footwear and apparel, Nike is exploring new technologies to strengthen brand engagement and operational efficiency. By entering the Solana blockchain, the company takes a proactive approach in the evolving digital landscape while complying with industry standards for blockchain implementation.

    Key Metrics for Traders and Observers

    Market participants should monitor how Nike’s collaboration with Solana evolves, particularly regarding user engagement metrics and potential increases in Solana’s transaction volumes. The broader implications of this initiative could influence other major brands to explore similar blockchain partnerships. Observing market reactions will be crucial as this partnership develops.

    This article is for informational purposes only and does not constitute financial advice.

  • Solana Tests $100 Support as Whale Traders Bet on Price Rebound

    Solana Tests $100 Support as Whale Traders Bet on Price Rebound

    Solana (SOL) slipped 2% on Tuesday, trading near $102, yet a cluster of large derivatives traders is positioning for a continuation of the asset’s recent recovery. Five whale addresses on Hyperliquid collectively opened $9.11 million in SOL long positions between September 7 and September 8, according to CoinGlass data.

    Whale Long Positions Signal Confidence Ahead of Network Upgrade

    The concentrated bullish exposure suggests these traders expect Solana to extend the rebound that began on August 17. Their combined $9.11 million commitment reflects confidence that the upcoming network improvement could spark renewed buying demand. Long positions profit when the underlying asset rises, though they carry liquidation risk if SOL resumes its decline. While the activity of a few large traders does not guarantee a rally, sizable whale moves often influence sentiment, especially ahead of a major protocol change.

    Solana’s September 9 Upgrade Expands Transaction Capacity

    The scheduled upgrade will raise the maximum transaction size from 1,232 bytes to 4,096 bytes. This increase allows developers to pack more instructions into a single operation, bundling processes that previously required multiple separate transactions. By more than tripling the size limit, Solana aims to support more complex applications and reduce the need to split related instructions across several transactions.

    Additional context on the upgrade can be found in this post by Scott Melker.

    Broader Derivatives Metrics Remain Bearish

    Despite the whale long positions, Solana’s wider futures market continues to show caution. SOL’s funding rate sits at a positive 0.0025%, meaning long holders are paying shorts to maintain their trades — a sign of stronger demand for bullish positions. However, the long-to-short ratio stands at 0.94, indicating short accounts outnumber long accounts. This reading reinforces the view that the five Hyperliquid whales are taking a contrarian stance against prevailing futures sentiment.

    Demand for SOL derivatives has also weakened. Trading volume fell 10% to $6.58 billion, while open interest declined 1.21% to $6.47 billion. Lower volume signals reduced trading activity, and declining open interest shows leveraged positions are being closed. Together, these metrics suggest futures traders are reducing exposure as SOL approaches its upgrade.

    Institutional Demand Paints a More Constructive Picture

    On the institutional side, Solana exchange-traded funds have recorded inflows for ten consecutive weeks. This streak indicates that demand through regulated investment products remains resilient despite weaker futures activity. The result is a divided market outlook: whale positioning and ETF inflows favor an eventual recovery, while negative funding, falling open interest, and a sub‑one long‑to‑short ratio point to short‑term caution. SOL’s reaction to the September 9 upgrade could determine which side gains control.

    Technical Analysis: Symmetrical Triangle Points to $124 Resistance or $84 Support

    On the four‑hour chart, SOL is trading within a symmetrical triangle — a pattern that reflects tightening price action and can break out in either direction. The formation’s projected height is approximately 16%. A decisive break below the lower trendline could send SOL down a similar percentage toward $84. Before that target comes into view, sellers would need to push price below the psychological support at $100.

    Conversely, a clear move above the triangle resistance at $107 could trigger a 16% rally toward $124. Momentum currently leans toward sellers: the Relative Strength Index sits at 44, below the neutral 50 level, and its lower lows indicate growing selling pressure. Solana’s immediate outlook therefore hinges on the triangle’s boundaries. Holding $100 and breaking above $107 would strengthen the whale‑backed bullish scenario, while losing triangle support could expose SOL to a decline toward $84.

  • BlackRock’s BUIDL Outpaces Circle’s USYC as Tokenized Treasury Race Heats Up

    BlackRock’s BUIDL Outpaces Circle’s USYC as Tokenized Treasury Race Heats Up

    BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has narrowly overtaken Circle’s USYC to become the second-largest tokenized U.S. Treasury fund, highlighting the accelerating competition in the tokenized real-world asset (RWA) market.

    BUIDL and USYC compete for market share

    According to Token Terminal data, the total tokenized U.S. Treasury market is worth approximately $15.1 billion. BUIDL accounts for about $2.8 billion, giving it an estimated 18.5% market share. Nearly one-fifth of all tokenized Treasury assets are therefore held through BlackRock’s fund.

    USYC also recorded rapid growth in 2025, rising from roughly $600 million to nearly $3 billion. By late August 2026, the fund had reached approximately $2.9 billion, slightly above BUIDL’s estimated $2.7 billion at that point.

    In a separate market snapshot, Sky’s uSDS ranked first with a value of $4.4 billion, followed by BUIDL at $2.28 billion. Tether’s XAUT ranked third at $2.8 billion, while Circle’s USYC was listed fourth at $2.28 billion.

    However, XAUT is classified as a tokenized commodity rather than a tokenized fund. Excluding uSDS and XAUT, BUIDL and USYC remain closely matched, meaning new institutional inflows or withdrawals could quickly change their rankings.

    BlackRock’s position may also shift rapidly because the asset manager frequently records significant inflows and outflows across its Bitcoin [BTC] and Ethereum [$ETH] exchange-traded funds (ETFs), affecting their cumulative flow totals.

    BlackRock expands its tokenized fund offering

    The competition comes as BlackRock recently launched BSTBL on Ethereum and BRSRV on Solana [$SOL]. The tokenized money market funds are designed to serve as reserve assets for stablecoins.

    The development is significant because stablecoins now represent approximately $305 billion and have become a major source of on-chain liquidity. By offering similar institutional products on both Ethereum and Solana, BlackRock is providing capital access to both ecosystems while reinforcing the competition between $ETH and $SOL for liquidity.

    By late August, USYC had reached approximately $2.9 billion, slightly above BUIDL’s estimated $2.7 billion. BUIDL has since narrowly overtaken USYC, underscoring the growing competition among tokenized Treasury funds and the broader expansion of institutional RWAs.

  • Solana’s Hylo Launches Innovative Leverage System for All

    Solana’s Hylo Launches Innovative Leverage System for All

    Hylo’s innovative leverage model on Solana has reached $100 million in total value locked (TVL) just four months after launch, drawing significant attention across the crypto market. The system allows investors to manage leveraged positions without traditional margin calls or liquidations.

    How Hylo’s Solana Leverage Model Works

    Hylo’s leverage system is designed to give a broader range of investors access to sophisticated trading strategies. Users can adjust their leverage dynamically as market conditions change, while automatic rebalancing is intended to help positions withstand market corrections.

    The model could change how retail investors participate in crypto markets, particularly during periods of heightened volatility. With market signals remaining mixed, Hylo offers traders a tool for managing exposure while seeking to preserve their positions.

    Key Takeaways

    • Hylo’s leverage model reached $100 million in TVL within four months.
    • The system is designed to eliminate traditional margin calls and liquidations.
    • Automatic rebalancing may help users manage positions during market corrections.
    • Hylo aims to make leveraged trading more accessible beyond professional investors.
    • The project reflects a broader push to democratize financial tools in crypto.

    Why Solana Matters

    Solana’s high throughput and low transaction costs make it a popular platform for decentralized applications and decentralized finance (DeFi) products. Hylo’s leverage model is aligned with those capabilities, supporting rapid execution and more advanced trading strategies.

    Solana’s account recently highlighted the development on social media, suggesting that Hylo could help broaden access to leverage in the crypto market. The model also positions Solana to benefit from continued interest in innovative DeFi products.

    What Traders Should Watch

    Market participants will be watching Hylo’s effect on Solana trading volume, liquidity and overall market sentiment. Wider adoption could increase activity on the platform and potentially contribute to larger price movements.

    The model’s performance may also influence other projects across the Solana ecosystem and the wider crypto industry, particularly as developers explore new approaches to leverage and risk management.

    The information provided is for educational purposes and should not be considered financial advice.

    Source: cryptonews.net

  • Analyst Says Signal Has Triggered, Altcoin Could Rally 50%

    Analyst Says Signal Has Triggered, Altcoin Could Rally 50%

    Solana ($SOL) is showing strong on-chain fundamentals despite its recent price pullback, according to crypto analyst Ali Martinez. The data suggests that Solana could begin a new upward move toward $150 if key support and resistance levels are cleared.

    Solana network growth remains strong

    Data shared by Martinez shows that the price of $SOL has declined approximately 8.31% since August 26, falling from $110.50 to $100.40. However, activity on the Solana network continues to expand. An average of 9.5 million new addresses were created each day over the past week.

    Martinez said sustainable network growth is an important indicator of adoption, noting that similar trends have appeared before major Solana price rallies.

    Whale holdings and ETF inflows increase

    Demand from large investors has also strengthened. The number of wallets holding at least 10,000 $SOL has increased by 1.58%, with 52 new whale wallets recently joining the network.

    Institutional demand has remained positive as well. Spot Solana ETFs traded in the United States have recorded net inflows for seven consecutive weeks. Martinez reported that more than 1.2 million $SOL, worth approximately $120 million, flowed into the ETFs last week alone.

    Solana exchange balances decline

    Another bullish signal highlighted by Martinez is the decline in Solana held on cryptocurrency exchanges. Exchange balances fell by 4.91% over the past week, representing withdrawals of approximately 2.6 million $SOL.

    According to Martinez, the trend points to rising demand and could indicate lower short-term selling pressure across the market.

    $103 support becomes crucial for SOL price

    From a technical perspective, the $103 level is a key support zone for Solana. On-chain data indicates that approximately 39 million $SOL were purchased in this region.

    If the $103 support level holds, traders are likely to monitor $123 and $132 as important resistance areas. Each zone has a cost density of approximately 20 million $SOL.

    Martinez said that a break above the $123 and $132 resistance levels could accelerate the uptrend and open the way for a potential move toward $150.

    This is not investment advice.

  • Analyst Reveals Top Altcoins to Buy as Market Enters an Altcoin Supercycle

    Analyst Reveals Top Altcoins to Buy as Market Enters an Altcoin Supercycle

    Crypto Analyst Says Altcoin Super Cycle Has Begun, Names Four Coins He Holds

    Crypto analyst Ran Neuer says the market has entered a distinct altcoin super cycle, supported by a nine-year technical breakout that many traders have overlooked. He also identified the specific cryptocurrencies he is personally holding for the current phase of the market.

    According to Neuer, the cycle is being driven by renewed enthusiasm for altcoins rather than Bitcoin strength. He pointed to the ETH/BTC ratio as evidence, tracing its long-term pattern to Ethereum’s earliest use case: transferring digital value through smart contracts without human intervention.

    That use case helped trigger the 2017 initial coin offering boom before the ratio entered a prolonged downtrend as the technology struggled to deliver on its promises.

    “After a 9-year downtrend on the weekly, this is now breaking out,”

    Neuer said the breakout confirms a structural rotation into altcoins rather than a temporary market bounce.

    1. Solana

    Neuer named Solana as one of two winners of what he describes as the completed “L1 war.” He holds Solana directly and calls it “the second winner” in his broader investment thesis.

    He argues that Solana has effectively captured crypto-native onboarding, giving the network a strong position among users entering the cryptocurrency ecosystem through blockchain-native applications.

    2. Ethereum

    Alongside Solana, Neuer identified Ethereum as the other Layer 1 winner. He credited Ethereum’s integration with Base and Robinhood with helping it capture real-world asset onboarding, a channel that differs from Solana’s crypto-native user base.

    Neuer argues that the two networks have absorbed most of the long-term value in the Layer 1 sector, leaving him uninterested in other Layer 1 tokens.

    “I wouldn’t really invest in any other L1s because I just don’t think there’s any upside in the L1s,”

    Neuer said.

    3. Hyperliquid

    Neuer described Hyperliquid as the strongest active use case in crypto and said he holds the token directly. He cited its tokenomics and its role as an exchange as key reasons for his conviction.

    He also said he would buy Hyperliquid even at its current all-time high, arguing that the market is mispricing the token by focusing on fully diluted valuation, or FDV, without accounting for staking-driven scarcity.

    “Crypto is a function of scarcity times pressure,”

    Neuer said.

    “The buying pressure plus the staking pressure plus the actual buying pressure divided by the number of tokens in circulation creates insane pressure on the way up.”

    4. Zcash

    Neuer’s most aggressive individual call focuses on Zcash, the privacy-focused cryptocurrency that recently gained ETF backing. He argued that Zcash could develop into a dominant form of “private money” and outlined a specific scaling scenario linked to Bitcoin’s market capitalization.

    “I think the upside on Zcash from here is 10x, maybe 100x,”

    Neuer said.

    Neuer Still Holds Bitcoin

    Neuer’s confidence in altcoins does not come at Bitcoin’s expense. He remains bullish on Bitcoin because of continuing concerns about currency debasement, but views it as one component of a broader portfolio rather than the primary growth trade of the current cycle.

    What Comes Next for the Altcoin Market

    Beyond his four named holdings, Neuer believes investor attention is moving away from competition between blockchain infrastructure projects and toward application-layer projects that operate more like businesses.

    In his view, the strongest opportunities will involve assets with genuine user growth, sustainable revenue and a mechanism for distributing that revenue to token holders.

  • New GOLD Token Wallets Sell 224.5 Million Tokens in $330,000 Solana Exit

    New GOLD Token Wallets Sell 224.5 Million Tokens in $330,000 Solana Exit

    Lookonchain reported on Aug. 29 that 15 newly created wallets linked by the tracker to the GOLD token team sold 224.5 million GOLD tokens for 3,178 $SOL, worth approximately $330,000. The sale reportedly generated a profit of about $312,000. The original data post is available on X.

    What the GOLD Token Sale Data Shows

    The report provides a limited snapshot of market activity rather than a forecast of future prices. Its figures relate to the wallets, products or market segments identified in the post, and the timing is significant because cryptocurrency activity can change rapidly.

    For the Aster move, the reported return was unrealized. In the GOLD case, the wallet attribution was based on on-chain tracking. The $SOL withdrawals show transfers from named exchanges but do not identify the owners or reveal their intentions. ETF exchange-balance and volume figures are measurements from the named data providers, not official statements from every market participant.

    Why the Developments Matter

    These developments illustrate how trading activity, custody decisions and liquidity can influence digital-asset markets. A new perpetual listing may attract both leverage and attention. A coordinated-looking token sale may raise questions about token concentration and disclosure.

    Large withdrawals can reduce immediately visible exchange balances, but they do not automatically indicate accumulation. ETF inflows may expand regulated access to digital assets, while exchange outflows can result from several factors, including self-custody, staking or transfers between trading venues. Volume dominance measures participation, not the quality or durability of the assets being traded.

    What the Report Does Not Establish

    The posts do not establish that any of the reported moves will continue. They also do not, by themselves, prove intent, ownership or a completed change in market structure. Readers should distinguish realized gains from unrealized positions and observed transfers from wallet labels.

    Indicators to Watch Next

    Follow-up evidence will include whether the activity continues after the initial move, whether additional wallets or filings clarify attribution, and whether liquidity remains available across venues. In the ETF and exchange-balance cases, subsequent daily flows will help show whether the reported direction was temporary or part of a longer-term trend.

    Until further evidence emerges, these developments remain dated market observations. BlockchainReporter will continue to separate sourced on-chain data from interpretation rather than treating a single reading as a forecast. Additional context is available in earlier market coverage.

    Source: cryptonews.net

  • Solana Breaks 10-Month Slump as Institutional Investment Surges

    Solana Breaks 10-Month Slump as Institutional Investment Surges

    Solana traded near $106 on Sunday afternoon after reaching $110.38 on Aug. 27, its highest price since late January. $SOL has gained roughly 46% this month and is about 80% above its June low, pushing Solana’s market value back toward $61 billion.

    Institutional Money Starts Chasing Solana

    The rally ended 10 consecutive monthly declines and gave Solana its strongest month since 2024. However, $SOL remains well below its January 2025 all-time high ($ATH) near $293, making August a comeback rather than a period of price discovery. Solana would need to rise another 63.5% to reclaim that record.

    Regulated investment products have provided a visible source of buying demand. U.S. spot Solana exchange-traded funds (ETFs) have attracted roughly $1.34 billion in cumulative net inflows since launching in October 2025, according to data from sosovalue.com. Bitwise’s BSOL Solana fund, which also operates as a staking ETF, has surpassed $1 billion in assets under management.

    Solana ETF statistics via sosovalue.com on Sunday, Aug. 30, 2026.

    Another major distribution channel is also approaching. On Aug. 27, Charles Schwab announced plans to add spot $SOL, avalanche (AVAX) and chainlink (LINK) to Schwab Crypto in the coming months. Schwab oversees more than $12 trillion in client assets across approximately 39 million brokerage accounts.

    Corporate buyers are entering the market as well. Defi Development Corp. purchased 19,000 $SOL at an average price of $98.14, increasing its holdings to approximately 2.33 million $SOL. Goldman Sachs also disclosed roughly $88 million in Solana ETF exposure in its latest regulatory filing.

    Solana Governance Vote Could Tighten Future Supply

    Solana has completed its first binding onchain governance vote. SGP-0002, dubbed “Double Disinflation,” passed with 67% support from participating stakeholders, narrowly exceeding the required two-thirds threshold.

    The proposal doubles Solana’s annual disinflation rate from 15% to 30%. In practical terms, new $SOL will enter circulation at a much slower rate sooner, while the network retains its eventual 1.5% inflation floor. Estimates suggest the change could reduce issuance by roughly 18.9 million $SOL over six years.

    The impact will not be immediate. Developers must still complete the software work and activate the policy across the network, making implementation the next key checkpoint for traders monitoring Solana’s future supply.

    Record Network Traffic Tests Solana’s Capacity

    The price rally also coincided with heavy network activity. The Kobeissi Letter reported on Aug. 25 that Solana processed a record 4.2 billion transactions in July, 13.5% more than in June and roughly 91% above December 2025 levels. Between Aug. 17 and Aug. 23, the network processed approximately 1.32 billion non-vote transactions, setting another weekly record.

    Blockworks data image showing Solana’s transfer count via The Kobeissi Letter’s X post on Aug. 25.

    Additional capacity is already scheduled. Transaction V1, planned for Sept. 9, will increase the maximum transaction size from 1,232 bytes to 4,096 bytes, giving applications considerably more space to package data within individual transactions.

    Storage costs could also decline. Solana’s planned rent reduction may eventually cut the deposit required to store data onchain by 90%, lowering expenses for developers building token accounts, non-fungible tokens and tokenized real-world assets.

    September Could Determine Whether Solana’s Rally Continues

    Leverage amplified August’s move, with more than $16 million in Solana short positions liquidated during the breakout toward $109, according to Coinglass.com derivatives data. Forced buying can accelerate a rally, but the same mechanism can intensify losses when momentum reverses.

    September will present a more difficult test. $SOL traders will monitor the first rent reduction, the Transaction V1 upgrade on Sept. 9, faster transaction times and progress toward the planned Alpenglow consensus upgrade in October. These milestones could help determine whether August marked the beginning of a larger Solana recovery or simply produced the token’s sharpest rebound in nearly a year.

    Feature and hero image via sosovalue.com metrics.

  • Crypto Weekly: Solana Leads Altcoin Gains as XRP and DOGE Decline

    Crypto Weekly: Solana Leads Altcoin Gains as XRP and DOGE Decline

    Crypto markets ended the week virtually flat after a volatile stretch that saw bitcoin and major altcoins retreat from multi-week highs before recovering late in the session. The choppy trading followed a sharp rally the previous week, when digital assets added more than $500 billion in combined market value in seven days.

    Crypto market capitalization began the week near $2.74 trillion, fell below $2.7 trillion on Aug. 23, and then recovered to $2.79 trillion by Friday. By Saturday afternoon, however, total market capitalization had slipped to approximately $2.73 trillion, leaving the crypto economy nearly unchanged for the week.

    Bitcoin Recovers After Volatile Trading

    Momentum from the previous week’s U.S. Treasury bond buyback announcement carried into Tuesday, Aug. 25, briefly pushing bitcoin above $81,000 before the rally stalled. Bitcoin then consolidated between $77,000 and $79,000 for two days before surging again Thursday and reclaiming $81,000 for the second time in a week.

    Bitcoin fell below $77,000 in the period surrounding Federal Reserve Chair Kevin Warsh’s Jackson Hole address. The leading cryptocurrency later recovered some of its losses, returning above $78,000 by Saturday afternoon and recording a modest 1% weekly gain. The move kept bitcoin on track to end August more than 20% higher.

    Bitcoin and Gold Fuel Scarce-Asset Debate

    Bitcoin’s parallel movement with gold during the week renewed debate over whether institutional investors are shifting toward a broader debasement trade to hedge against the erosion of fiat currencies. Industry experts, however, described the trend as a structural evolution rather than a straightforward hedging strategy.

    Himanshu Sahay, co-founder and CTO of Arch Lending, said the simultaneous movement in bitcoin and gold was notable but should not automatically be viewed as evidence of an institutional flight from fiat debasement alone.

    “What I do think we’re seeing is a broader reassessment of scarce assets,” Sahay said. “Gold has traditionally played that role, while bitcoin increasingly occupies a similar position for investors who are comfortable with a higher-volatility asset. The fact that they’re moving together is important because it suggests bitcoin is increasingly being traded within a broader macro framework rather than purely on crypto-specific narratives. That’s a meaningful evolution for the asset.”

    Altcoin Performance Diverges

    Altcoin performance varied sharply, with several tokens recording double-digit gains or losses. Solana (SOL) led the advancing assets after Charles Schwab announced plans to add SOL, AVAX and LINK to its accounts in the near future.

    Privacy-focused cryptocurrency Monero (XMR) also posted strong gains, rising from $425 to close the week at $463 on Saturday. Among large-cap digital assets, RAIN recorded the strongest weekly performance, climbing 24%.

    On the losing side, XRP, one of the previous week’s top performers, declined nearly 7%. Dogecoin fell 7.2%, while ADA, XLM and BCH each dropped more than 10%.

    Despite the mixed performance across individual tokens, the combined altcoin market capitalization increased by just over 4%, rising from $1.13 trillion at the start of the week to $1.18 trillion on Aug. 29.