$SOL Here’s the latest update and analysis on Solana (SOL):
📈 Price & Technical Update
SOL currently trades around $203.5, up ~6.5% today, and recently reclaimed the $200 level .
The breakout above $190–$200 marks a key technical milestone following a classic cup‑and‑handle formation, with next targets around $217–$250 .
Short‑term support zones lie at $188–$185, and a clean daily close above ~$203 could signal acceleration into the high $200s .
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🚀 Fundamentals & On‑Chain Activity
Developer activity on Solana is at a 2‑month high, fueled by ecosystem growth, new DeFi and NFT projects .
Total Value Locked (TVL) in Solana DeFi has surpassed $10 billion, reaching six‑month highs .
Corporate and institutional interest is rising: Nasdaq‑listed Upexi bought 100k SOL, supporting a treasury now over $331 million .
Major inflows: $39 million in fund investments last week, and around $11 million in short positions liquidated near $190–$191 .
🏦 Institutional & Ecosystem Developments
REX‑Osprey Solana + Staking ETF (SSK) launched on Cboe in early July, offering direct SOL exposure and staking rewards (~7.3% yield). It saw ~$20 million in first‑day volume .
BIT Mining Ltd. announced plans to invest $200–300 million into Solana, sending its stock price soaring
On the blockchain infrastructure side, PayPal stablecoin (PYUSD) continues running on Solana, and Solana is integrated into tokenization pilots by banks like HSBC via R3 .
🧠 Summary
Solana is showing strong bullish momentum after reclaiming $200 and breaking out of a key technical pattern. This aligns with positive on‑chain signals (developer interest & DeFi growth) and rising institutional engagement (ETF, treasury buys). If the broader crypto market remains supportive and Bitcoin holds steady, SOL has a good chance of reaching $220–$250 in the coming weeks. Even if it pulls back, the $185–$190 range offers strong support.
