Solana News Today: Solana Surges Past $200 as Institutional Buying Drives 23% Weekly Gain

Solana’s native token SOL surged past the $200 mark on Tuesday, marking its first time above that level since late July. Over the previous 24 hours, the price climbed 15.67% to $201.22, with its weekly gain reaching more than 23%. This strong performance outpaced the broader cryptocurrency market’s 4.2% rise, highlighting Solana’s growing appeal among investors. The token’s market capitalization now stands at $108.59 billion, with 24-hour trading volume hitting $12.71 billion—a 118.04% increase [1].

A key catalyst for the rally was corporate activity involving Upexi Inc., a Nasdaq-listed consumer products firm. The company announced the formation of a Solana-focused advisory board led by BitMEX co-founder Arthur Hayes. Additionally, Upexi revealed it holds $316 million worth of SOL and plans to deepen its engagement with Solana-based projects. The news sent its shares up 20% in pre-market trading [1].

Public companies now own approximately 8% of Solana’s available supply, creating a supply concentration that makes the token less accessible to other investors. This scarcity, coupled with speculation around potential U.S. regulatory approval for Solana-based investment vehicles, has fueled bullish sentiment. Analysts have noted that such institutional buying plays a crucial role in shaping Solana’s price action [1].

The $200 level holds psychological significance for traders, serving as a key benchmark for momentum. Solana briefly reached $205.87 before retreating slightly, leaving investors in anticipation of whether the token can sustain its recent gains. The price movement also followed a breakout from an ascending channel, with traders now closely watching for a sustained close above $200. If that happens, some technical analysts believe the near-term target could be between $205 and $210 [3].

The rally aligns with a broader shift in investor interest toward alternative cryptocurrencies. Ethereum’s market share has fallen to its lowest level since December, while Solana has led the daily gains, outperforming Ethereum’s 7.9% rise. Vincent Liu, chief investment officer at Kronos Research, described the move as “a key milestone” for Solana. While some analysts caution that a pullback could follow the sharp ascent, the combination of institutional demand and a more dynamic altcoin market is seen as supportive of the token’s current trajectory [1].

Market observers suggest that if Solana can maintain its upward momentum and confirm the breakout with strong volume, the next key resistance level could be $250. A sustained bullish trend might even see the token reach $300 in the long term [2]. Analysts emphasize the importance of sustained trading volume as a key indicator of whether the current rally can hold or if a correction is likely in the near future [2].

Despite the positive short-term outlook, the market remains volatile. Sharp corrections could occur if macroeconomic conditions or sentiment shift. However, Solana’s performance reflects its position as a high-throughput blockchain platform, meeting growing demand for scalable solutions in decentralized finance and decentralized applications [4].

Source: [1] Solana Crosses $200 as Institutional Buying Sparks Strong Rally (https://www.cryptotimes.io/2025/08/13/solana-crosses-200-as-institutional-buying-sparks-strong-rally/)

[2] Solana Could Skyrocket to $300 by 2026—Here's What ... (https://www.interactivecrypto.com/solana-could-skyrocket-to-300-by-2026heres-what-you-need-to-know)

[3] Solana price nears $200 after breakout from ascending ... (https://tradersunion.com/news/cryptocurrency-news/show/434059-solana-breakout-from-ascending-channel/)

[4] Ethereum Inches From Record, Dogecoin Soars (https://stocktwits.com/news-articles/markets/cryptocurrency/ethereum-inches-from-record-dogecoin-soars/chrCBj9RdBU)