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Solana’s native token jumped roughly 15% in the past 24 hours, briefly touching $204 and reclaiming the $200 threshold for the first time since late July. The advance lifted the network’s market value back above $100 billion, underscoring renewed demand for the once-lagging altcoin. The rally came amid a broader cryptocurrency upswing that pushed Bitcoin to about $121,500 and Ethereum to around $4,700. Market observers said Solana’s break through the round-number resistance level could attract additional momentum buyers, with Kronos Research Chief Investment Officer Vincent Liu calling $200 a key psychological and technical milestone. On-chain metrics point to strengthening fundamentals. Data from DeFiLlama show total value locked on the Solana network has climbed above 58 million SOL—worth more than $11 billion—its highest reading in more than three years, while the chain has led decentralized-exchange activity over Ethereum for ten consecutive months. Institutional accumulation is also adding support. CoinGecko figures indicate that publicly traded companies including Upexi Inc. and DeFi Developments Corp. now hold more than 3.5 million SOL, valued at over $590 million. Analysts said the combination of treasury buying and expanding DeFi use-cases is bolstering investor confidence that Solana can sustain further gains.
