Analyst: The breakthrough of SOL above the $200 mark indicates a recovery in investor confidence and an increase in market liquidity.

On July 22, The Block reported that Solana rose 12.26% to $203.5 in the past 24 hours, reaching its highest level since February 5. Vincent Liu, Chief Investment Officer of Kronos Research, stated, "The K-line breaking through $200 is an important psychological and technical threshold for Solana, indicating a rebound in investor confidence and increased market liquidity. The breakthrough at this key position often attracts more buying, laying the foundation for subsequent upward momentum." Analysts pointed out that multiple factors are behind this round of Solana's rise. Nick Ruck, Research Director of LVRG Research, mentioned the Block Assembly Marketplace (BAM) launched by Jito, which is a new block-building architecture designed to reshape the way blocks are built on the Solana network, greatly improving transaction efficiency while enhancing privacy and flexibility. Vincent Liu stated that Solana's rise is also benefiting from DeFi Development Corp (DFDV) announcing yesterday that it has completed $19 million in financing and acquired 141,383 SOL, increasing its total Solana treasury to 999,999 SOL. Market optimism about the potential launch of Solana ETF in October this year is continuously rising. Nassar Al Achkar, Chief Strategy Officer of a CEX platform, said, "Ethereum and other alts have started a new round of upward trends relative to Bitcoin, and the recent rebound has pushed various mainstream alts to highs not seen since last year. As institutions begin to adopt new reserve strategies and worry about missing out on ETH's big run like Bitcoin's surge to $120,000, there is still upward space for Ethereum's exchange rate against BTC."