SOL has gained over 33% in July, outperforming both Bitcoin and Ethereum as the crypto market enters uncharted territories.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
Solana SOL $185.7 24h volatility: 4.6% Market cap: $99.82 B Vol. 24h: $15.12 B roared back into the crypto spotlight, crossing the $200 mark for the first time since February earlier this year and breaking above the $14 billion market capitalization after an 87% surge in its trading volume in the past 24 hours.
According to CoinMarketCap data, SOL is trading at around $199.10, up 5% in the past 24 hours and 24% in the last seven days. The altcoin is just 32.57% from its all-time high and faces a huge resistance wall beyond the $250 price level.
Nasdaq-listed DeFi Development Corp has accumulated a staggering 999,999 SOL in its treasury after a fresh $198 million purchase between July 14 and July 20.
1/ 🚨 JUST 1 $SOL TO GO…
That's right, DeFi Dev Corp. now holds 999,999 $SOL on our balance sheet after raising $19M from our Equity Line.
$192M of SOL stacked. Staked. Compounding. Onchain.
Who is ready for us to accumulate the next 1,000,001 $SOL?! pic.twitter.com/K2B6ZxJIId
— DeFi Dev Corp. (@defidevcorp) July 21, 2025
These acquisitions weren’t just spot buys, they also included discounted locked tokens and staking rewards. Notably, all newly acquired SOL has been immediately staked, earning passive yield for the company.
There are no plans to diversify into other crypto assets, with its CEO highlighting Solana’s volatility and native staking rewards as central to its treasury growth strategy. With $5 million in cash reserves still available, more SOL purchases could be imminent.
Another major catalyst is the announcement of Jito Labs’ Block Assembly Marketplace (BAM), a high-performance block-building architecture set to roll out in the coming weeks.
BAM introduces a dedicated sequencing layer, powered by Trusted Execution Environments (TEEs), to reduce MEV, speed up transaction processing, and bring programmable blockspace to Solana.
With features like custom rule plugins for transaction sorting, developers can monetize blockspace and optimize block building, turning network infrastructure into a revenue stream.
On the charts, SOL recently broke out of an ascending wedge pattern, with the upper boundary near $200 serving as resistance, which needs to be flipped to support. The RSI sitting at 81, signaling overbought conditions.
SOL Daily Chart with Wedge Pattern | Source: TradingView
On the other hand, the MACD line is well above the signal line, and both are in positive territory, confirming bullish momentum.
The breakout from the wedge suggests a possible measured move target in the $230–$250 range in the medium term, if SOL holds above $200. If BAM delivers on its promises and DeFi Development Corp continues to buy, SOL may not be done rallying just yet.
Solana blockchain is also known for having some of the best meme coins to buy. If Pump.fun rebuilds meme token mania on SOL, the cryptocurrency could turn parabolic once again.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
