Solana Price Surges Above $209 Amid Rising Spot Volume
Solana price climbed above $209 on September 3, outperforming Bitcoin and Ethereum amid a broader uptick in crypto trading activity. In August, global spot trading volume reached $1.86 trillion, up 5% from July, with Binance leading at $737.1 billion, followed by Bybit ($126.5 billion) and Bitget ($126.1 billion). U.S. spot Ethereum ETFs posted $3.87 billion inflows in August, while Bitcoin ETFs saw $751.1 million outflows, a trend that reversed on September 2 with $332.7 million net inflows into Bitcoin funds versus $135 million outflows from Ethereum products. Decentralized exchanges also hit their busiest month since January, recording $368.8 billion in volume—led by Uniswap ($143 billion) and PancakeSwap ($58.7 billion). Trading data shows sustained demand for SOL, with buyers targeting the next resistance at $227. This rotation of capital from ETH to SOL underscores Solana’s growing appeal as an altcoin play. Crypto traders should watch Solana price dynamics closely as rising spot volume and ETF flows signal bullish momentum.
Bullish
Solana’s breakout above $209 on strong volume and positive ETF developments points to bullish sentiment. Rising spot trading volumes and capital rotation from Ethereum to SOL demonstrate growing confidence in altcoins. Historically, similar breakouts with high volume sustain rallies, suggesting that short‐term momentum will likely continue. In the long term, if spot volumes and ETF inflows remain robust, Solana could test higher resistance levels, reinforcing a bullish outlook for traders.