Solana News Today: Solana Surges Past $200 on Institutional Buy-In and Strong On-Chain Metrics

Solana (SOL) pushed past $200 for the first time in August, driven by growing institutional interest and a surge in on-chain activity. On August 13, the price surged 14% to a daily high of $204.47 before consolidating at $198.93. This marked a significant milestone for the blockchain, signaling renewed confidence from major players in the market.

Corporate entities have been aggressively accumulating SOL, with Upexi becoming the largest corporate holder, holding over 2 million tokens valued at more than $400 million. Additionally, DeFi Dev Corp. amassed nearly 1 million SOL in mid-July, having spent $19 million in just one week [1]. These actions highlight the growing appetite among institutional investors to position themselves in Solana’s ecosystem.

Analysts at B2BINPAY attributed the price movement to robust on-chain metrics. Daily active wallets are nearing 3 million, throughput has tripled since July, and DeFi TVL has reached a peak since 2022. These developments are further supported by new NFT launches, GameFi growth, and Visa’s pilot program to settle USDC transactions on Solana [1]. The firm also noted that if Bitcoin continues to lose market dominance, Solana could potentially see a rally to $250–$260.

Market sentiment is strongly bullish. On Polymarket, traders assigned a 77% probability to Solana surpassing $210 by the end of August, with a 25% chance of reaching $250 [1]. Coinpedia analysts echoed this optimism, suggesting a potential 20% rally toward $244–$250 [2]. XT Community News also reported that institutional holdings of Solana had reached $675 million, indicating strong treasury interest and demand fueled by high staking yields [3].

The broader market context further supports the positive outlook. As Bitcoin’s dominance declines, alternative cryptocurrencies such as Solana are gaining traction. B2BINPAY analysts emphasized that the $210 level is a critical breakout threshold for a sustained uptrend, with network TVL hitting a multi-year high in SOL terms [4].

This renewed institutional confidence reflects a strategic shift in the crypto market, with major players betting on Solana’s scalability and innovation. If the current momentum continues, Solana could be on track to solidify itself as one of the leading blockchains in the industry.