Solana Breaks Key $200 Mark for the First Time Since February

Solana (SOL) saw a sharp price increase on Monday evening, fueled by tech developments and growing market optimism. The cryptocurrency jumped 12,3% over 24 hours, reaching $203.03 - its highest level since February 5. Analysts attribute the rise to new developer initiatives and significant institutional buying.

New Block Marketplace and MEV Protection

One of the key growth drivers was the announcement of the Block Assembly Marketplace (BAM), developed by the Jito Foundation. According to Nick Ruck, Director of Research at LVRG Research, BAM is expected to change how blocks are constructed on the Solana network. The new architecture enhances transparency and predictability in transaction ordering, allows more flexible monetization mechanisms, and protects the network from malicious MEV.

BAM is expected to go live on Solana’s mainnet in the coming weeks. Investors took this as a positive signal that the network continues to evolve despite a recent cooldown in the memecoin segment. Ruck noted that the news boosted interest in SOL, which some market participants believe is currently undervalued.

Large Purchases and Growing ETF Hype

Another bullish factor was news that DeFi Development Corp (DFDV) purchased 141.383 SOL worth approximately $28.7 million, bringing its total holdings to 999.999 SOL. The investment came shortly after a $19 million fundraising round.

Vincent Liu, Chief Investment Officer at Kronos Research, explained that this purchase - combined with anticipation around a potential Solana ETF decision in the U.S. on October 10 - helped ignite trader enthusiasm.

“Liquidity depth is increasing, and momentum is shifting toward altcoins,” he noted.

Nassar Al Achkar, Strategy Director at CoinW exchange, added that Ethereum and other major altcoins are beginning to gain upward traction against BTC. According to him, institutional investors are shifting to a new asset reservation model, which could also provide further support for ETH.

As a reminder, Solana’s previous all-time high of $295 was recorded on January 18, the day the TRUMP token was launched by Donald Trump’s team.

This post is for informational purposes only and does not constitute advertising or investment advice. Please conduct your own research before making any financial decisions.