Solana price traded near $106 on Aug. 28 after reaching $110, as strong US ETF inflows and network activity helped SOL defend its breakout despite hotter inflation data.

Solana price retreats after reaching $110

According to data from crypto.news, Solana (SOL) price rose as high as $110 on Aug. 28 before retreating to around $106.25, leaving it approximately 10% above its Aug. 26 opening price of $96.60. SOL briefly fell to $95.23 earlier in the period before buyers restored the uptrend.

The recovery followed a strong advance that began around Aug. 19, when SOL broke out of a prolonged range near $75–$80. The token subsequently cleared $88, $94, and the psychological $100 level as buying pressure accelerated.

Friday’s pullback started after SOL tested the $109–$110 area, where the 4-hour chart shows its latest local high. The decline of about 3.4% from that peak points to profit-taking after the rapid advance rather than a confirmed reversal.

SOL remains above an ascending trendline connecting the higher lows formed since Aug. 19. Its 4-hour Supertrend also remains bullish, with dynamic support at approximately $100.95. A drop below both levels would provide the first warning that the short-term structure is weakening.

The Awesome Oscillator stands at 8.82, well above its neutral line. Its positive reading shows that recent upward momentum remains stronger than the preceding downswings, although the latest red bar suggests the pace has started to cool.

ETF inflows help SOL absorb inflation pressure

Solana’s rebound developed despite US inflation data creating a more difficult backdrop for risk assets. The Bureau of Economic Analysis said the headline Personal Consumption Expenditures price index rose 3.7% annually in July, compared with a 3.6% consensus estimate.

Core PCE increased 0.2% monthly and 3.3% annually, matching forecasts. The slightly hotter headline reading initially pushed bond yields and the US dollar higher as traders reduced expectations for easier Federal Reserve policy. The BEA released the figures on Aug. 26.

SOL fell to $95.23 after the report but recovered quickly as spot demand offset the initial de-risking. US spot Solana exchange-traded funds extended their inflow streak to five sessions through Aug. 24, when they attracted $33.5 million, their largest daily intake of 2026.

The inflow took cumulative net subscriptions to approximately $1.22 billion. Later data reported by CryptoRank placed the streak at seven sessions and cumulative inflows near $1.26 billion.

The reported $126 million figure relates to single-day trading volume for Bitwise’s BSOL fund, rather than net inflows. Separating volume from subscriptions is important because high turnover does not necessarily show that an equal amount of new capital entered the product.

Growing ETF demand gives US investors regulated exposure to SOL without requiring direct token custody. It may also strengthen spot-market demand when fund issuers acquire the underlying asset to create new ETF shares.

Solana network activity strengthens the rally

Network activity has provided a second source of support. Solana processed more than 1.01 billion transactions during one week in August, according to figures reported earlier in the month. The milestone points to high chain usage, although transaction totals can include automated activity and should not be treated as an exact measure of unique users.

Tokenized-equity trading has also expanded. Solana processed $1.298 billion of the $1.324 billion in global onchain equity volume during the week of June 15–21, representing about 95% of the market, according to Solana Compass.

First-half tokenized-stock volume reached a reported $4.9 billion, more than six times the $775 million recorded in the second half of 2025. The comparison shows longer-term growth rather than a sixfold increase during the latest price rally.

SOL’s supply outlook has attracted additional attention as validators consider the Double Disinflation proposal. The plan would increase the annual rate at which inflation declines from 15% to 30%.

Helius said the proposal would move Solana toward its terminal inflation rate of 1.5% by the first half of 2029, compared with 2032 under the existing schedule. Any supply effect remains conditional on the proposal’s approval and implementation.

SOL needs to hold $104 to target $115

The daily chart places SOL just above the 50% Fibonacci retracement level at $104.41. Holding that former resistance as support would preserve the breakout and give buyers another opportunity to challenge $110.

Momentum remains bullish but stretched. The Aroon Up indicator stands at 92.86%, while Aroon Down is 14.29%, confirming that the most recent high is much newer than the latest major low. Chaikin Money Flow is also positive at 0.32, showing that accumulation has outweighed distribution during the measured period.

A confirmed daily close above $110 would expose the 38.2% Fibonacci retracement at $114.88. Clearing that level could extend the rally toward $127.83, while the 4-hour rising trendline points toward the $111–$112 area in early September.

The 24-hour liquidation heatmap shows the closest major overhead liquidity concentrated around $108.50–$109 and near $110.50–$111.50. A move through those zones could force leveraged short positions to close and add momentum to a breakout.

Liquidity is also visible below the market around $104–$105, with deeper concentrations near $102–$103. A loss of $104.41 could therefore pull SOL toward $100.95, followed by the 61.8% Fibonacci level at $93.95.

SOL’s broader setup remains bullish while price holds above $100–$104. However, rejection at $110, stretched daily momentum, and nearby downside liquidity leave the token vulnerable to a deeper reset before any attempt at $114.88 or $127.83.

Brazil’s central bank has developed a real-time crypto threat alert system with Hypernative that will connect banks and domestic exchanges after attackers moved part of an estimated $180 million theft into cryptocurrency.

Valor Econômico reported that the Central Bank of Brazil developed the monitoring and alert-sharing system with blockchain security company Hypernative and has already tested the tool with market participants. The system is designed to help financial institutions identify attacks, respond to suspicious activity and track funds when stolen money moves from the banking system into crypto markets.

Brazil crypto alert system moves toward integration

Regina Pedroso, executive director of the Brazilian Tokenization Association, or ABToken, said integration is expected to begin within the next two weeks. Foxbit and Mercado Bitcoin are among the crypto companies participating in the implementation.

The system is expected to distribute threat information between participating institutions, allowing alerts generated in one part of the financial system to reach companies that may encounter the funds later.

Discussions around the project began late last year, when the central bank approached industry associations and market participants about creating a working group focused on monitoring cyberattacks and sharing warnings. ABToken participated in those discussions.

Testing has since been completed with a group that included banks and crypto companies, while some alerts have already been issued. The next stage requires participating associations and companies to adapt their systems so they can receive and redistribute the warnings.

“The challenge now is to implement the tool,” Pedroso said, according to Valor Econômico. “It has already been tested by the Central Bank, some bulletins have already been issued, and now associations have to adapt to receive and distribute the alert.”

Hypernative specializes in detecting onchain threats and responding to suspicious activity before or during attacks. Its work with the Brazilian regulator covers monitoring patterns that could indicate stolen funds are moving toward crypto exchanges, where assets can be converted or transferred to other wallets.

The central bank’s project focuses in part on maintaining traceability when illicit funds leave traditional financial channels and enter cryptocurrency infrastructure. Banks and exchanges operating separately can see different stages of the same movement, making information sharing part of the system being developed.

$180 million C&M attack accelerated the project

Work on the system gained urgency following the attack involving financial software provider C&M Software in 2025.

Attackers compromised infrastructure connected to Brazilian financial institutions and siphoned funds from reserve accounts before converting part of the stolen money into cryptocurrencies. Estimates placed the total amount taken between $140 million and $180 million.

Crypto.news previously reported in July 2025 that blockchain investigator ZachXBT helped Brazilian authorities trace between $30 million and $40 million connected to the attack. Some of the stolen funds were converted into Bitcoin, Ether and USDT through Brazilian exchanges and over-the-counter trading platforms.

ZachXBT worked with Binance, Bitso, Bybit and Tether to freeze roughly $5 million linked to the stolen funds. Brazilian authorities had separately frozen about $50 million by early July while investigators continued pursuing people suspected of participating in the operation.

The breach involved C&M, which provides technology connecting financial institutions to infrastructure used by Brazil’s financial system. Authorities arrested an employee accused of selling login credentials that were subsequently used by the attackers.

Movement of the proceeds into crypto demonstrated the problem the new alert network is designed to address: a cyberattack can originate inside conventional financial infrastructure while some of the proceeds later pass through exchanges, stablecoins and blockchain wallets.

Brazilian authorities have used blockchain tracking in other investigations. Days after the C&M case, Tether assisted authorities with Operation Magna Fraus, an investigation into a network accused of moving funds stolen through Brazil’s Pix payment system into USDT.

Authorities seized R$5.5 million in cryptocurrency during that operation and froze another R$32 million, worth about $5.7 million at the time. Investigators recovered a private key connected to illicit assets, allowing the funds to be transferred into state custody.

Brazil adds 24-hour hold for some crypto transfers

The alert network is being prepared as Brazil introduces separate safeguards governing how crypto service providers process certain transactions.

Starting Jan. 1, 2027, virtual asset service providers will be required to impose a 24-hour preventive hold on qualifying transfers above $10,000 under rules published by the Central Bank on Aug. 7.

The threshold can apply to a single transaction or a customer’s combined transactions during the same day. The measure covers qualifying transfers involving foreign crypto providers and self-custody wallets, while smaller transactions may face closer examination when providers identify elevated risk.

Providers can release transactions before the full 24-hour period expires after completing required risk checks. They must notify customers when the safeguard is applied and retain records covering attempted fraud and actions taken in response.

The central bank said the measure addresses the use of virtual assets, including stablecoins, to move proceeds from financial fraud rapidly, particularly when funds are transferred outside Brazil or into wallets directly controlled by users.

The transaction hold and threat-alert network operate at different stages. The alert system is intended to distribute information about potential attacks and suspicious fund movements, while the transfer rule gives regulated providers additional time to review certain transactions before assets leave their platforms.

Central bank tightens requirements for crypto providers

Brazil has introduced several other requirements for virtual asset service providers ahead of the country’s licensing framework taking fuller effect in 2027.

In July, the central bank approved new prudential requirements covering capital, risk management and disclosure standards for crypto service providers.

Virtual asset firms are set to move into Brazil’s S4 regulatory segment by mid-2028, placing them under requirements closer to those applied to securities brokers and distributors. Institutions operating under the lighter S5 framework will not be permitted to provide virtual asset services.

Crypto companies applying for authorization or renewing licenses must submit independent audit reports examining anti-money laundering controls, customer asset segregation, internal risk management and employee compliance programs.

Licensed exchanges will face another reporting requirement from Jan. 1, 2027, when they must prove asset sufficiency daily. The framework requires customer and company assets to be segregated and introduces accounting requirements for crypto holdings.

Brazil has separately restricted the use of virtual assets inside regulated cross-border payment channels. Resolution BCB No. 561 prevents regulated electronic foreign exchange providers from settling covered international transactions using crypto assets, although cryptocurrency trading and transfers remain permitted outside those supervised payment rails.

For the threat-monitoring project, participating banks, exchanges and industry associations are now moving from testing into implementation. Pedroso said Foxbit and Mercado Bitcoin will participate as the system begins integration, while associations prepare to receive and distribute alerts generated through the network.

Fidelity accelerates crypto adoption while ASDeFi’s Digital Miner model addresses energy costs and mining efficiency.

This week, financial giant Fidelity took the three most significant steps in its cryptocurrency history:

• Fidelity Investments has launched its first stablecoin, the Fidelity Digital Dollar (FIDD), which is available to both institutional and retail investors.
• Fidelity has launched the Fidelity Reserve Digital Fund, a money market fund designed to help stablecoin issuers and institutional investors meet reserve requirements under the GENIUS Act by investing in cash and short-term instruments.
• Fidelity has added staking and quarterly dividend mechanisms to its nearly $900 million Ethereum ETF, the fund retains 85% of the total staking returns.

This means that Fidelity’s strategy regarding crypto assets is no longer an experiment but a long-term, structural commitment; for individual investors, the focus is shifting from “whether cryptocurrencies are legal” to “how to invest in the crypto asset market through these new financial products.”

Market divergence: Fidelity clients are buying, while ETFs Are selling

Fidelity’s FBTC has recently seen significant outflows, but on-chain data shows that, during the same period, Fidelity clients directly increased their Bitcoin holdings by approximately $134 million, suggesting that some capital may be shifting from passive products such as ETFs to direct Bitcoin holdings;

At the same time, the price of Bitcoin remains above its 50-day moving average, while extremely low historical volatility and shrinking spot trading volume indicate that the market is in a highly compressed state. In other words, the apparent outflows from ETFs do not necessarily indicate institutional bearish sentiment; rather, they likely reflect investors adjusting their positioning strategies.

AI warning: Why fidelity is concerned about mining competition

Fidelity’s 2026 Mid-Term Assessment notes that Bitcoin mining is facing increasingly intense competition for electricity and data center resources from AI and high-performance computing. The network’s average hash rate recently fell by 8.8% over a 30-day period, highlighting the importance of energy costs and infrastructure efficiency to the mining industry’s profitability.

This is a detailed and crucial warning, one that has direct implications for anyone considering investing in Bitcoin mining.

The competition between AI data centers and Bitcoin mining for electricity and infrastructure is very real. When energy costs rise or data center capacity becomes tight, mining profits shrink. This is precisely why the operational efficiency and energy strategy of mining platforms are critical, and why ASDeFi strategically focuses on regions with low-cost renewable energy; this is not only an environmentally friendly initiative but also an inevitable competitive choice.

What Fidelity’s moves this week mean for individual investors

Fidelity’s series of moves this week clearly outline the direction of institutional crypto infrastructure development: from the FIDD stablecoin and the Reserves digital fund to Ethereum ETF staking and on-chain Bitcoin accumulation, institutions are shifting from simply gaining price exposure to directly and efficiently participating in crypto assets and generating returns from stablecoins, staking, and on-chain yields.

AI mining competition Alert: Efficient mining infrastructure is critical

The competition between AI and Bitcoin mining for energy and computing power further highlights the importance of efficient infrastructure. Institutional investors seek to invest directly and efficiently in crypto assets, rather than passively holding them. They are pursuing yields, staking rewards, and on-chain accumulation, not just price exposure. Since 2020, ASDeFi has been putting this philosophy into practice.

Cryptocurrency infrastructure: Earn cryptocurrency rewards daily

Fidelity is accelerating the development of institutional-grade cryptocurrency yield infrastructure, while ASDeFi has been providing individual investors with ways to mine cryptocurrency and earn daily cryptocurrency rewards since 2020.

Its core product, “Digital Miner,” is a blockchain-based NFT that represents a user’s share of the actual computing power at the ASDeFi data center; the platform distributes daily cryptocurrency rewards based on the computing power held by users. ASDeFi currently has over 5 million users and more than 16.7 million TH of computing power, which is deployed in data centers in North America.

How ASDeFi works:

Step 1: Visit the official website to register an account.

Enter an email address and password to create an account. New user receive a $15 bonus upon registration, and a $0.60 bonus for logging in every day.

Step 2: Deposit cryptocurrency

Go to the platform’s deposit page to deposit major cryptocurrencies, including: BTC, USDT, ETH, LTC, USDC, XRP, and BCH.

Step 3: Select a mining contract according to needs and purchase it

ASDeFi offers a variety of contracts to suit investors with different budgets. Whether someone is seeking short-term gains or long-term returns, ASDeFi has the right option.

Examples of common contracts:

Check-in Contract: $15 — 1-day cycle — Total profit of approximately $15.6

Introductory Contract: $100 — 2-day cycle — Total profit of approximately $108

Basic Contract: $1,000 — 10-day cycle — Total profit of approximately $10,140

Stable Contract: $6,000 — 20-day cycle — Total profit approximately $8,040

Stable Contract: $30,000 — 30-day cycle — Total profit approximately $47,100

(For more contract details, please visit the official website.)

Step 4: Calculate and Settle Hashrate Earnings

ASDeFi takes full responsibility for hardware, energy, maintenance, and 24/7 monitoring; rewards are automatically distributed every 24 hours.

Conclusion

Fidelity has recently launched a series of products, including stablecoins, digital reserve funds, and an Ethereum ETF staking service, indicating that traditional financial institutions are accelerating their entry into the cryptocurrency space. Investment approaches for crypto assets are also gradually shifting from simple price-based trading toward stablecoins, staking, on-chain yields, and crypto infrastructure.

The competition between AI data centers and Bitcoin mining for energy and computing power resources has also led the mining industry to place greater emphasis on energy costs, infrastructure efficiency, and operational capabilities. ASDeFi’s “Digital Miner” model allows users to participate in mining by purchasing Digital Miners, which represent shares of a data center’s computing power. The platform handles the hardware, energy, maintenance, and round-the-clock operations, and distributes cryptocurrency rewards in accordance with relevant rules.

Overall, the expansion of traditional financial institutions into crypto assets and the development of cryptocurrency mining infrastructure reflect the gradual emergence of more diversified financial and revenue models in the cryptocurrency market.

For more information, visit the official website and download the app.

BitGo has agreed to expand its institutional offerings by acquiring the institutional trading business of NYDIG, a Bitcoin infrastructure provider. The deal adds derivatives and financing capabilities to BitGo’s existing platform as the company pushes deeper into capital markets services for professional crypto users.

According to a Business Wire announcement published Thursday, BitGo completed the acquisition under a definitive agreement. The transaction includes NYDIG’s institutional client trading relationships and approximately 30 employees, while financial terms were not disclosed.

Key takeaways

• BitGo says the NYDIG acquisition completed Thursday under a definitive agreement, including institutional client relationships and about 30 employees.
• The added business reportedly brings derivatives, structured products, financing, and capital markets services into BitGo’s institutional suite.
• BitGo intends to “meaningfully scale” its trading and infrastructure capabilities, positioning itself for a broader range of asset managers, hedge funds, and corporate clients.
• NYDIG said the sale enables it to focus resources on power generation, Bitcoin mining, and high-performance computing data centers.

What BitGo is buying

The acquisition centers on NYDIG’s institutional trading operations, which the companies describe as providing execution and related services for sophisticated market participants. In the announcement, BitGo outlines an expanded set of capabilities that includes derivatives and structured products, along with financing and capital markets services.

The target customer base includes asset managers, hedge funds, and companies—participants that typically require more than spot access, such as risk-managed exposure, structured payoff products, and trading workflows tied to institutional governance.

BitGo CEO Mike Belshe characterized the acquisition as a way to accelerate growth in its institutional offerings. The company said the deal will “meaningfully scale” BitGo’s trading and infrastructure capabilities and help it serve more institutional clients.

How institutional trading capabilities may change

For firms operating in crypto, the gap between retail access and true institutional trading often comes down to execution depth, product breadth, and financing options that fit balance-sheet and risk frameworks. By bringing in derivatives and structured products alongside financing and capital markets services, BitGo is effectively broadening the range of tools it can offer institutional clients through a single provider.

The practical significance is that more types of institutional strategies become easier to deploy—especially those that rely on structuring, hedging, or credit-linked financing rather than direct spot exposure alone. BitGo’s framing suggests it views the acquisition as both an expansion of product capabilities and an uplift in the infrastructure required to support them.

In remarks included in the announcement, Pete Janney, head of financial infrastructure at BitGo, said the transaction allows the combined team to continue delivering execution quality and solutions clients expect, now “backed by an even deeper set of resources.”

Why NYDIG is stepping back from trading

The deal is also described as a strategic reallocation of resources for NYDIG. Under the terms of the announcement, the sale will allow NYDIG to focus on areas tied to its infrastructure footprint—specifically power generation, Bitcoin mining, and high-performance computing data centers.

NYDIG’s development pipeline was cited as a key factor in that direction. The announcement states its development pipeline exceeds 3 gigawatts, including more than 1 GW of capacity expected to be delivered in 2027 and 2028.

That shift matters because it highlights how the institutional crypto sector is splitting strategic attention between market services and physical infrastructure. While BitGo is pulling further into trading and capital markets, NYDIG is leaning into the buildout of energy and computing capacity that supports mining and related infrastructure operations.

What to watch next

With the acquisition completed and staffing and client relationships moving to BitGo, the immediate question for the market is how quickly BitGo integrates the acquired trading capabilities into its broader institutional workflow. Investors and institutional clients may also look for any updates on product rollout—particularly around derivatives and structured offerings—and how BitGo positions its expanded services relative to the rest of the institutional trading ecosystem.