In the past 24 hours, Solana 
$86 (SOL) achieved a remarkable surge of 15.4%, surpassing the $200 mark for the first time since July 24 and the second time since February. According to CryptoAppsy’s data, this price point stands out as an essential psychological and technical threshold. Vincent Liu, Investment Director at Kronos Research, noted that breaking through the $200 level might boost buying interest, further strengthening the upward momentum for this altcoin.
Solana Breaks the $200 Barrier
Data reveals that SOL frequently played a leading role in recoveries following the bear market lows of 2022-2023. During this cycle, it was among the few altcoins to reach a new all-time high (ATH) as early as January. However, in recent weeks, the pressure on its performance has been noticeable, with Ethereum (ETH) 
$2,315 showing remarkable dominance since July 14. Ethereum’s performance has been 20% stronger than Solana over the past year and 25% stronger since the year’s start.
Boosted by increasing purchases, Solana’s current trading position is over the $200 mark, with the latest data indicating a trading price of $201.27 for the altcoin.
Active Movement in the Altcoin Market
Meanwhile, Ethereum climbed over $4,700, reaching its highest levels since achieving an ATH of around $4,878 in November 2021, surpassing Bitcoin 
$77,464‘s gains since the beginning of the year. The resurgence in ETH has spread across the altcoin market. In the last 24 hours, ETH increased by 9.7%, XRP by 5.2%, BNB by 6.4%, DOGE by 12.5%, and ADA by 13%, while BTC showcased a more modest increase of 1.6%. This broad-based price activity indicates a shift in risk appetite from large-scale coins to medium-large market-cap coins.
On the Solana front, institutional treasury accumulations are also noteworthy. On Tuesday, the Solana treasury firm DeFi Development Corp shared its estimated daily revenue of $63,000 in SOL from its reserve of 1.3 million SOL (exceeding $260 million). The total SOL assets of publicly traded companies have approached $675 million, while new treasury companies that have provided funding and are purchasing recently offer additional support to altcoin.
