$SOL returns to capture the attention of the crypto market after breaking the $200 level thanks to significant on-chain activity growth. However, signals from derivative data and the market share of decentralized exchanges (DEX) indicate that the journey towards the ambitious target of $250 is still full of questions.

Table of Contents

Rapid Rally, High Expectations

On-chain Growth: Good News for SOL

Derivative Sentiment: Neutral to Bullish

Solana ETF: Potential New Catalyst

Conclusion: The Road to $250 Needs a New Trigger

Rapid Rally, High Expectations

According to Cointelegraph, on Tuesday (13/8), SOL's price briefly touched $205 after soaring 18% in less than two days. Although it lost its footing above the psychological level of $200, SOL's performance remains superior compared to the crypto market in general. Its market capitalization now stands at $107 billion, still below BNB's leading $117 billion.

To answer whether SOL has a chance to surpass BNB in the “flippening” scenario, investors highlight two main factors: network fundamentals and derivative market sentiment.#SolanaUSTD #solana #TradingSignals #TradingSignal