Alright, Solana just reminded the market who’s boss. 🧵
$SOL up 12% to hit $204, and this isn’t just retail FOMO — there’s serious institutional weight behind this pump.
What’s really fueling this?
$200M from Solana Ventures just got allocated to Mercurity Fintech — that’s equity, not token buys. That means corporate players are doubling down on Solana’s ecosystem, not just speculating on price.
Combine that with Upexi’s $273M SOL buy earlier this month and we’ve got clear signs of treasury accumulation. Supply is tightening while demand just got rocket fuel.
Then there’s macro flow:
The Altcoin Season Index is at 55.
Rotation out of BTC is real — Bitcoin dominance just took a 5.8% nosedive, the biggest weekly drop since June 2022. SOL’s price is riding that rotation wave hard.
And technically?
Broke the $180 level clean.
$12.6B in 24h volume and $34M in short liquidations.
RSI is 72.8 → yeah, it’s overbought… but this kind of momentum doesn’t just vanish overnight.
Caveat?
$200 is a psychological brick wall. Unless follow-through volume sticks, we might see some chop here.
But with DeFi TVL creeping up on Solana and corporate money locking in exposure, I wouldn’t fade this move too quick.
Question is — if this flow continues, could Solana actually start eating L2s alive?
