Solana’s market cap reclaims the $100 billion mark after falling from its high in January. As of July 21, the token’s market cap surged to $102.6 billion following a 6.18% boost in value.
According to the data from crypto.news, SOL (SOL)’s market cap surged by 6.7% in the past 24 hours to $102.6 billion following a price boost at 6.18%. The increase in market cap follows a daily price peak for SOL at $191.52.
Historically, this is the first time in the second half of 2025 that the token’s market cap has exceeded $100 billion. The last time SOL’s market cap reached $117 billion was back in January 2025 when it reached its all-time high at $293.31 on January 19.
It reached a similar level of $100 billion and stayed there back in November 2024 before the crypto market went through a slump due to Trump’s blanket tariffs.
Crypto.news market data shows that SOL is ranked at number six among the top cryptocurrencies by market cap. The token is just $9 billion behind Binance Coin (BNB), which is at $111 billion. Solana managed to maintain its rank above USD Coin (USDC) by a large margin of nearly $40 billion.
Solana’s rise in market cap is fueled by the price gains of its token. In the past few weeks, SOL has been on a rally, soaring by 25.7% in the two weeks and 34.8% in the past month. In the past 24 hours, SOL has gone up by 6.7%.
It is currently trading hands at $191.29. The last time SOL reached above $190 was back in early February this year.
One of the main drivers of Solana’s high market cap surge is the newly launched REX-Osprey SOL + Staking ETF that has neared $100 million in assets and offers rare staking rewards, institutional interest is heating up.
As previously reported by crypto.news, REX-Osprey SOL + Staking ETF has had inflows every week since its launch, and held up to $99.7 million in assets.
Another key driver is the institutional demand for SOL that has been ramping up with more companies like SOL Strategy, DeFi Development Corp and other firms that have started accumulating SOL as part of staking and treasury strategies.
