Solana and Chainlink saw significant gains of over 12% recently, following a lower-than-expected inflation report that bolstered hopes for Fed interest rate cuts. Solana surged by 12.9% to $198.48, while Chainlink gained 12.5% to $24.21. This trend was echoed across the broader altcoin market, with Ethereum up 8.6% and Cardano rising 8.9%. The July Consumer Price Index showed an annual inflation rate of 2.7%, which lowered market expectations for tightening monetary policy by the Federal Reserve. Analysts at Presto highlighted that the current market's upward momentum is driven mostly by institutional investors, marking a shift from the previous retail-driven cycles. While the overall bullish sentiment persists, some analysts cautioned that increased leverage in the market creates a risk of volatility and potential liquidation events should market conditions change unexpectedly.

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