Solana and Chainlink Surge Amid Institutional Demand and Soft Inflation Data, Suggesting Potential for Future Rate Cuts

Key Points

1. Solana and Chainlink surged by 12.9% and 12.5% respectively, with Solana reaching $198.48 and Chainlink hitting $24.21 in the last 24 hours.

2. The broader altcoin market showed strength, with Ethereum rising 8.6% to $4,670.42.

3. July’s Consumer Price Index indicated annual inflation at 2.7%, below the expected 2.8%, influencing market movements.

4. Institutional investors are significantly impacting the crypto market dynamics, fueling altcoin gains.

5. The current inflation rate, reported at 2.7%, is affecting cryptocurrency market trends.