Analyst: SOL Breaks $200 Mark Signaling Investor Confidence Rebound, Enhanced Market Liquidity

BlockBeats News, July 22nd, according to The Block, Solana has risen by 12.26% in the past 24 hours to $203.5, reaching its highest level since February 5th. Vincent Liu, Chief Investment Officer of Kronos Research, stated, "The breakthrough of the $200 level is an important psychological and technical milestone for Solana, indicating a recovery in investor confidence and enhanced market liquidity. Breaking through this key level often attracts more buying pressure, laying the foundation for further upward momentum."

Analysts pointed out that there are multiple factors behind Solana's recent surge. Nick Ruck, Research Director at LVRG Research, mentioned the Block Assembly Marketplace (BAM) launched by Jito, which is a new block-building architecture designed to reshape the way blocks are built on the Solana network, greatly improving transaction efficiency on the Solana network while enhancing privacy and flexibility.

Vincent Liu stated that Solana's recent surge has also benefited from DeFi Development Corp (DFDV) announcing yesterday that it has completed a $19 million financing round and acquired 141,383 SOL, increasing its Solana treasury to 999,999 SOL. Market expectations for the launch of a Solana ETF in October this year are continuously heating up.

Nassar Al Achkar, Chief Strategy Officer of CoinW exchange, said, "Ethereum and other altcoins have embarked on a new round of upward trends relative to Bitcoin. The recent rebound has brought many mainstream altcoins to their highest points since last year. As institutions begin to adopt new reserve strategies and are concerned about missing out on an ETH rally similar to Bitcoin surging to $120,000, Ethereum still has room for upside against BTC exchange rate."