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Analyst: SOL Breaking $200 Level Indicates Investor Confidence Recovery, 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 at Kronos Research, stated that "The breakout above $200 is an important psychological and technical level for Solana, indicating a resurgence of investor confidence and increased market liquidity. Breaking through this key level often attracts more buying pressure, laying the foundation for further upward momentum."
Analysts point out that there are multiple factors behind Solana's recent surge. Nick Ruck, Research Director at LVRG Research, mentioned Jito's launch of the Block Assembly Marketplace (BAM), 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 rise also benefited from DeFi Development Corp (DFDV) announcing yesterday that it had completed a $19 million financing round and purchased 141,383 SOL, increasing its Solana treasury holdings to 999,999 SOL. Market expectations for a Solana ETF to be launched in October this year are continuously heating up.
Nassar Al Achkar, Chief Strategic Officer at CoinW Exchange, stated: "Ethereum and other altcoins have begun a new round of upward momentum relative to Bitcoin. This recent rebound has propelled various mainstream altcoins to their highest levels since last year. As institutions begin to adopt new reserve strategies and are concerned about missing out on a similar ETH bull run to $120,000 as with Bitcoin, Ethereum still has upside potential against BTC."
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