What's up everybody! It's Thomas Bahamas and you are here for another episode of Solana Weekly. We've got a lot of excitement this week with the FOMC numbers coming out today and we are on the verge of a shift in monetary policy flipping from restrictive to cutting rates.

Sol Price: 181.84, up two dollars from last week, but we spiked above 190 and the strength that it's showing versus the market cannot be ignored.

SOLETH: .05486 - up a small amount from last week.

SOLBTC: .00273 up a bit, and if you look at the yearly we are testing highs on this pair. Insane when you think about it with all the momentum behind Bitcoin.

SOLD - 3.61 up from 3.5

Overall, Solana is looking strong from all the metrics that track as far as price goes and we are at usage levels that are just about all time high as well. Feels like Solana Summer to me.

Biggest price narratives:

Overall in the market it's still ETF's, elections, fed cutting rates, Solana usage and memecoins.

With that said, I actually still think that Solana benefits from an Eth breakout. Whether that's just more liquidity willing to go to risk assets, people watching the SolEth chart, or even the bet on Solana getting an ETF next.

Drip Haus feedback:

So much love, I would like to thank each an every one of you. will try to take things from first principles more often, thanks again Reeny.

Biggest news: Binance lawsuit the sec no longer calls Solana and other tokens securities.

Looks like the rates have been unchanged for the Month of July with September rate cuts being priced in at 90%.

Protocol wise, it doesn't seem like there have been any major releases other than the ability to short memecoins being released on Solend and Marginfi.

Our NFT's remain down, hold steady and harvest some tax losses if you can. I fight the urge to buy more quekz and a MadLad daily.

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