Solana Outpaces Bitcoin In Crypto Surge To 6-Month High — Analysts Say Jackson Hole Could Decide BTC’s $80K Breakout

• Solana's uptick was supported by strong network activity, with transactions reaching a reported 1.32 billion over the last week.

• According to a Morningstar report, analysts stated that macro factors are driving the rally in cryptocurrencies, rather than crypto market-specific catalysts. 

• The report pointed to Jackson Hole as the next major catalyst for Bitcoin, with analysts watching for new Fed chair Kevin Warsh's comments for signals on monetary policy. 

Solana (SOL) led gains among the top cryptocurrencies on Thursday, outperforming Bitcoin (BTC)  and climbing to a six-month high, while analysts reportedly are eyeing the Federal Reserve's Jackson Hole symposium for the next potential catalyst.

Solana's price rallied 7.5% in the last 24 hours, to over $103, and was among the top trending tickers on Stocktwits at the time of writing. Meanwhile, Bitcoin's price gained 1.3% in the last 24 hours, trading at around $79,600 and struggling to recapture the $80,000 mark.

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However, Bitcoin has outperformed Solana over the past year, dropping around 30% in the last 12 months, while SOL has dropped 50%.