Solana soars nearly 6% as it crosses over the $200 threshold, reclaiming its high shortly after its market cap surpasses $105 billion and its trading volume grows nearer to $33 billion.
According to data from crypto.news, Solana (SOL) reached a daily peak of $203.56 on July 22 02:00 UTC. This is the first time this year the token has managed to reclaim its previous January high, crossing over the $200 level. Unfortunately, the peak did not last long and the token has suffered a slight dip, bringing it back down to the $199 mark.
At press time, SOL has surged by 5.64% in the past 24 hours. The token that has laid the foundation for thousands of meme coins in the space is currently trading hands at $199.64, only a few cents short of the $200 threshold.
This boost in value has also led to an increase in the token’s daily trading volume. According to data from CoinGecko, the 24-hour trading volume has jumped nearly 100% compared to the previous day. On July 22, the daily trading volume for Solana hit $32.6 billion.
Solana’s ongoing rally
In contrast to other major tokens on the charts which have experienced a downturn in performance today, Solana has been riding high on a bullish rally. In the past 24 hours, SOL has been riding a 5% high. Meanwhile, in the past week the token has soared by 21.9%.
In the past month, SOL has seen a much larger boost in its value by 46.8%. Its current price stands 32% below its previous all-time high of $293.31 from January 19, 2025.
As previously reported by crypto.news, SOL’s market cap broke through the $100 billion threshold on July 21. This was the first time the token’s market cap jumped as high as $100 billion since January. However, it has since bounded even higher by nearly 10% on July 22, reaching $105.9 billion.
The rally is believed to be sparked by the newly launched REX-Osprey SOL + Staking ETF that has surpassed $100 million in in assets under management, reaching as high as $101.7 million as of July 18, 2025.
In addition, corporate accumulation of SOL has also seen an uptick, with companies like SOL Strategy, DeFi Development Corp and other firms accelerating their efforts.
