Let's talk about $SOL SOL, which broke through the $200 mark yesterday! The market has even surpassed BNB, climbing to the fifth position in cryptocurrencies.
The recent trend of SOL is definitely not a coincidence. This is the result of multiple fundamentals and policy catalysts working together.
First, the TVL (Total Value Locked) of the Solana ecosystem has rapidly increased in the past week, soaring from $8.5 billion to nearly $10.3 billion, with the number of active users on the chain exceeding 3.3 million, indicating that the entire network is in a strong expansion phase. At the same time, the global crypto market is entering a stage of "altcoin rotation," with institutions starting to switch liquidity from BTC to high-cap mainstream coins, and SOL is one of the leaders in the current rotation rhythm.
On the news front, the first spot ETF based on Solana—code-named SSK—has completed the preliminary filing procedures at the Chicago Mercantile Exchange and is expected to be approved for formal trading before mid-August. Once implemented, the institutional allocation ratio of SOL will be further increased, which is also a key logic supporting the recent strong breakout.
In addition, the Solana Foundation recently announced further expansion of its stablecoin payment experiment with Visa, promoting the circulation of USDC directly on the SOL chain for cross-border payment settlements. This action has been interpreted by the market as a new benchmark for "blockchain practical application scenarios landing."
On the technical front, the SOL daily chart has formed a standard "cup and handle" pattern, with $190 becoming a new support level. Overall, SOL is currently in a critical window period of technical breakthroughs, explosive fundamentals, and favorable policies resonating together. Therefore, whether you are a short-term speculator or a medium-term investor, this wave of market trend is worth closely following.
In fact, before this wave of market started, I mentioned that SOL would have a lot of upward space next. At that time, the price was $160, and I said we could see the recent high of $187. Unfortunately, that post didn’t get much attention at the time.
