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22/07/25 13:15 UTC-04

Solana Surpasses $200 for the First Time Since February. What Drove the Rally?

Cryptocurrency Cryptocurrency
Cryptocurrency Solana Surpasses $200 for the First Time Since February. What Drove the Rally?

For the first time since February 2025, Solana (SOL) has surged past the $200 mark after an impressive 26% daily gain. The altcoin's market capitalization has surpassed $14.26 billion.

Despite the sharp increase, Solana is still trading 32.5% below its all-time high of $250.

The rapid rally was driven primarily by institutional demand. Notably, DeFi Development Corp — a Nasdaq-listed company — added 999,999 SOL to its balance sheet, purchasing $198 million worth of tokens last week. The company reportedly plans to continue expanding its Solana holdings.

Another major catalyst for SOL's rally was the announcement of the upcoming launch of Block Assembly Marketplace (BAM) by Jito Labs. BAM is a high-performance block-building architecture, expected to go live in the coming weeks. It introduces a dedicated sequencing layer based on Trusted Execution Environments (TEE), aimed at reducing MEV, accelerating transaction processing, and enabling programmable blockspace. This opens new monetization opportunities for developers, turning blockspace into a revenue stream.

At the time of writing, Solana is trading at $197.84, showing a 3.27% gain in the past 24 hours.

See also: "With a 22% Weekly Surge, Cardano Returns to the Top 10 Cryptocurrencies"

#Solana

Editor: Yulia Krasnaya
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