Solana (SOL) has marked a significant price jump, crossing the $200 threshold. This achievement has occurred for the first time since July 24 and symbolizes an important support level for the market.
Solana Breaks the $200 Barrier
In the past 24 hours, the price of SOL increased by 15.4%, surpassing $200. Data from CryptoAppsy highlights that this level is an essential psychological and technical threshold. Vincent Liu, Investment Director at Kronos Research, noted that breaking through the $200 level may boost buying interest, further strengthening the upward momentum for this altcoin.
Active Movement in the Altcoin Market
Meanwhile, Ethereum climbed over $4,700, reaching its highest levels since achieving an ATH of around $4,878 in November 2021. In the last 24 hours, ETH increased by 9.7%, XRP by 5.2%, BNB by 6.4%, DOGE by 12.5%, and ADA by 13%, indicating a shift in risk appetite across the market.
Solana Accumulation Data
On the Solana front, institutional treasury accumulations are noteworthy. Recently, DeFi Development Corp shared its estimated daily revenue of $63,000 in SOL from its reserve of 1.3 million SOL, exceeding $260 million. The total SOL assets of publicly traded companies have approached $675 million.
Thus, Solana's price growth past $200 reflects a resurgence of interest in this altcoin and the development of institutional investments in digital assets.
