CandleFocus Solana Climbs Over 10% To Reach Highest Since Late August
2024-09-20
Author: Content Editor
Solana (SOL) experienced a significant rally, reaching its highest value in weeks, with the SOL token rising to $143.40. The surge in price was attributed to the Federal Reserve's announcement of lowering the federal funds rate. Lower interest rates tend to increase borrowing and investment in speculative markets like cryptocurrencies. Analysts also highlighted the positive developments within the Solana community and the approval of two Solana exchange-traded funds by Brazilian regulators, driving capital inflow and strengthening the ecosystem's momentum.
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