Solana breaks through 200 dollars to create a new 5-month high, driven by institutional investment and technological upgrades that pump.

[Block Rhythm] On July 22, 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 milestone for Solana, indicating a recovery in investor confidence and increased market liquidity. A breakthrough at this key position often attracts more buying pressure, laying the foundation for subsequent upward momentum."

Analysts point out that there are multiple factors behind this round of pump for Solana. Nick Ruck, the research director of LVRG Research, mentioned the Block Assembly Marketplace (BAM) launched by Jito, which is a brand new block building architecture that plans to reshape the way blocks are constructed on the Solana network, greatly enhancing the efficiency of transactions on the Solana network while also improving privacy and flexibility.

Vincent Liu stated that Solana's recent pump is also benefiting from DeFi Development Corp (DFDV) announcing yesterday that it has completed a $19 million financing round and acquired 141,383 SOL, increasing its total Solana treasury to 999,999 SOL. The market's optimistic expectations for a possible launch of a Solana ETF in October this year are continuing to heat up.

Nassar Al Achkar, the Chief Strategy Officer of a trading platform, stated: "Ethereum and other altcoins have entered a new rising trend relative to Bitcoin, and this recent rebound has pushed various mainstream altcoins to their highest points since last year. As institutions begin to adopt new reserve strategies and worry about missing out on a major ETH market similar to Bitcoin's surge to $120,000, there is still upward potential for Ethereum's exchange rate against BTC."