tl;dr
Solana (SOL) has surged over 20%, briefly surpassing $200 due to strong adoption, record on-chain activity, DeFi growth, and favorable macroeconomic factors. Key metrics include nearly 3 million daily active wallets, tripled blockchain throughput since July, and peak DeFi TVL since 2022. Expansion i...
Solana (SOL) has distinguished itself as one of the month’s standout performers, surging by more than 20% as optimism permeates the crypto market. Its brief resurgence above $200 signals more than speculative interest—it reflects solid adoption supported by record on-chain activity, growth in decentralized finance (DeFi), and favorable macroeconomic conditions.
Experts from B2BINPAY highlight that Solana’s climb past $200 is underpinned by tangible metrics. Daily active wallets near 3 million, blockchain throughput has tripled since July, and DeFi total value locked (TVL) reached the highest levels seen since 2022. The ecosystem’s expansion into NFTs and GameFi, alongside Visa’s recent pilot using USDC on Solana, further bolsters confidence in this rally.
Technically, $200 has become a reliable support level for SOL, with light resistance between $219 and $222. A strong breakout beyond this zone, fueled by increased volume, could propel prices quickly toward the $250-$260 range. This momentum is aided by decreasing Bitcoin dominance, indicating an ongoing shift towards altcoins, and neutral funding rates that suggest the market avoids excessive leverage.
Macro factors also play a pivotal role: a softer US dollar, expectations of interest rate cuts in September, and robust risk appetite in equities are channeling liquidity into high-beta cryptocurrencies like Solana. B2BINPAY maintains a bullish stance as long as SOL remains above $200 and Bitcoin dominance continues its decline. However, a drop beneath $180 might stall this upward trend.
Notably, large Solana holders—those owning over 10,000 SOL—have increased, hitting a new all-time high, underscoring institutional confidence. Four publicly traded companies collectively hold over 3.5 million SOL, around 0.65% of the circulating supply. Upexi leads with 1.9 million SOL acquired in just four months, followed by DeFi Developments Corp’s 1,182,685 SOL. Toronto-based SOL Strategies holds 392,667 SOL, built through consistent dollar-cost averaging and staking rewards, while Torrent Capital owns 40,039 SOL from earlier purchases in 2025.
Solana’s rally, propelled by authentic use cases and growing institutional adoption, marks it as a dominant player to watch within the evolving cryptocurrency landscape.