Solana's cryptocurrency has surged past a $100 billion market capitalization, reaching approximately $102.9 billion as of July 21, 2025. The price of SOL approached $193 following a 15.5% weekly increase, driven in part by growing demand for exchange-traded funds (ETFs). This rally has also boosted Solana's decentralized finance (DeFi) ecosystem, with total value locked (TVL) exceeding $10.45 billion, the highest level in six months. Weekly decentralized exchange (DEX) trading volume on Solana reached $27 billion, a nearly 30% increase from the previous week, while Bitcoin trading volume on Solana hit $645 million, marking an eight-week high. Open interest in Solana derivatives surpassed $11 billion, and liquidations of short positions totaled $16.5 million, indicating strong market activity. Meanwhile, Bitcoin's dominance in the crypto market dipped to 61%, as decentralized exchange liquidations on Solana outpaced those on centralized exchanges.