Analyst: SOL Breaking $200 Level Indicates Investor Confidence Recovery, Enhanced Market Liquidity

On July 22nd, as reported by The Block, Solana has witnessed a 12.26% increase in the past 24 hours and reached $203.5, hitting its highest level since February 5th. Vincent Liu, the Chief Investment Officer at Kronos Research, remarked that "The breakout above $200 represents an important psychological and technical level for Solana. It indicates a revival of investor confidence and an increase in market liquidity. Breaking through this key level usually attracts more buying pressure and lays the foundation for further upward momentum." Analysts point out that there are multiple factors contributing to Solana's recent surge. Nick Ruck, the Research Director at LVRG Research, mentioned that the launch of Jito's Block Assembly Marketplace (BAM), a new block-building architecture designed to reshape the way blocks are constructed on the Solana network, has significantly improved transaction efficiency on the Solana network while enhancing privacy and flexibility. Vincent Liu stated that Solana's recent rise has 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 rising. Nassar Al Achkar, the Chief Strategic Officer at CoinW Exchange, stated: "Ethereum and other altcoins have started a new round of upward momentum relative to Bitcoin. This recent rebound has driven various mainstream altcoins to their highest levels since last year. As institutions begin to adopt new reserve strategies and are worried about missing out on a similar ETH bull run to $120,000 like the one with Bitcoin, Ethereum still has upward potential against BTC."