Solana (SOL) has rallied nearly 6%, briefly crossing the $200 mark for the first time since January, as its market cap climbed past $105 billion and trading volume surged toward $33 billion.
According to data from crypto.news, Solana peaked at $203.56 around 02:00 UTC on July 22. This marked a significant milestone as the token reclaimed its early-year high. However, the rally was short-lived, with prices retreating slightly to around $199 shortly after.
At the time of writing, SOL is up 5.64% over the past 24 hours, trading at $199.64—just shy of the $200 threshold. Often credited as the launchpad for countless meme coins, Solana continues to hold a strong presence in the crypto ecosystem.
The recent price surge has been accompanied by a sharp rise in trading activity. Per data from CoinGecko, Solana’s 24-hour trading volume nearly doubled from the previous day, reaching $32.6 billion on July 22.
Solana’s Continued Surge
While many major cryptocurrencies have slipped into the red, Solana (SOL) continues to ride a strong bullish wave. Over the past 24 hours, SOL has climbed 5%, bringing its weekly gain to an impressive 21.9%.
Zooming out further, the token has surged 46.8% over the past month. Despite this momentum, SOL still trades about 32% below its all-time high of $293.31, recorded on January 19, 2025.
As previously reported by crypto.news, Solana’s market capitalization surpassed the $100 billion milestone on July 21—a level it hadn’t reached since January. That figure has since risen nearly 10%, hitting $105.9 billion by July 22.
The ongoing rally is largely attributed to the recent launch of the REX-Osprey SOL + Staking ETF, which has rapidly accumulated over $100 million in assets under management, reaching $101.7 million as of July 18, 2025.
Additionally, institutional interest in Solana appears to be ramping up. Firms such as SOL Strategy, DeFi Development Corp, and others have reportedly increased their accumulation efforts, further boosting confidence in the token’s trajectory.
