Solana Reclaims $200 as Altcoin Season Drives Strong Comeback

Popular digital currency Solana (SOL) has recently risen above the $200 price mark again, making a strong recovery after dropping to about $155 in late July. This rise comes as the crypto market sees fresh excitement during the ongoing altcoin season.

Altcoin season is when other digital assets grow in value along with, or even faster than, Bitcoin (BTC), the flagship digital coin. This rebound shows renewed hope among investors and marks a strong return for one of the top blockchain networks.

Strong Price Jump and Big Market Gain

In the past 24 hours, Solana’s price rose more than 14%, climbing from $175 to $202 before settling at $197.96, according to CoinMarketCap data. This surge lifted its total market value above $100 billion for the first time in months. This shows both a strong recovery and growing investor confidence in Solana’s future.

Market betting activity also shows strong optimism. On the prediction platform Polymarket, 84% of participants expect Solana to reach $210 soon. In addition, 43% believe the token could set a new all-time high before the end of 2025. These figures underline the belief that the rally is far from over.

DeFi Activity Hits Multi-Year Highs

Beyond its price movement, Solana’s decentralized finance (DeFi) ecosystem is showing some of its strongest growth since the network’s launch. Data from DeFiLlama reveals that the total value locked (TVL) in SOL terms reached over 58 million tokens this week. This is the highest level seen in more than three years.

When measured in U.S. dollar terms, the value of assets locked on the network exceeded $11 billion for the second time this year, a milestone last reached in January. This shows growing trust in financial apps built on the Solana network.

Trading on Solana-based decentralized exchanges (DEXs) remains strong. For ten months in a row, the network has handled more DEX trading than Ethereum. This shows more users are choosing Solana for decentralized trading.

Big Investors Grow Their Solana Holdings

Large investors are also helping boost Solana’s growth. In late July, CoinGecko data showed that several publicly traded companies became major holders of the token.

At the top is Upexi, Inc., which owns 1.9 million SOL bought at an average of $168.63 each. This is now worth $319.5 million, showing big unrealized profits. DeFi Developments Corp comes next with 1.18 million SOL bought at $137.07, now worth $198.9 million. 

In May, Toronto-based SOL Strategies started buying Solana, now owns 392,667 SOL, while Torrent Capital holds 40,039 SOL, bought at $161.84, earning about $200,000 in profit.