Solana’s (SOL) Strong Rally, The Latest Ethereum (ETH) Forecasts, and More: Bits Recap August 28

The broader cryptocurrency market has registered a solid uptick over the past week, with Solana (SOL) standing out as one of the biggest gainers.

Ethereum briefly climbed past $2,500, prompting analysts to turn even more bullish on the asset, while Bitcoin may not be out of the woods yet.

SOL’s Pump

Solana’s native token has soared by 40% over the past week, and earlier today (August 28), it jumped to almost $110, its highest level witnessed since January this year. As of this writing, it trades at around $105 (per CoinGecko), boasting a market capitalization of roughly $61 billion.

The improved condition of the crypto sector appears to be the main catalyst for the ascent, while rising institutional interest may also be a positive factor. According to SoSoValue, spot SOL ETFs have recorded eight consecutive green days; the last time this was observed was in May 2026. Another optimistic element is the return of the whales, some of whom spent millions of dollars to re-enter SOL’s ecosystem.

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