Usman Salis
Solana (SOL) hit $200 for the first time since March after Jito Labs announced its Block Assembly Marketplace, boosting investor confidence in the network's future.
SOL just smashed through the $200 barrier, and traders are buzzing. The token jumped nearly 9% in 24 hours, peaking at $203 before some folks decided to take profits. What's got everyone excited? Jito Labs just dropped news about their Block Assembly Marketplace (BAM) – a fancy new system that's supposed to make Solana way more efficient.
This isn't just hype either. The rally came with serious volume – SOL CD20 products gained 8.87% while trading volume nearly tripled to 4.87 million units, according to CoinDesk Analytics.
What's Behind SOL's Big Move?
"Solana surged past an important price level at $200 after the announcement of the Block Assembly Marketplace, which would create a new system for transaction processing," Nick Ruck from LVRG Research told CoinDesk. "Investors were bullish as the development would greatly enhance the efficiency of Solana transactions with more privacy and flexibility across the network."
Ruck added: "Traders believe that Solana has been oversold as developers continue to build on the blockchain despite the downfall of the memecoin market. We're optimistic that Solana can rise higher as an innovative hub with new opportunities for developers and traders."
How BAM Could Boost SOL Network
Here's the cool part about BAM: it uses special nodes called Trusted Execution Environments (TEEs) that privately decide the order of transactions before they hit the main Solana network. This helps prevent front-running and keeps things fair for everyone.
But wait, there's more. BAM lets developers create custom rules for how transactions get sorted. Want to prioritize certain trades? Bundle orders together? Charge premium fees? Now you can. Basically, blockspace becomes programmable, and developers can actually make money by optimizing how it's used.
Institutions Are Buying SOL Hard
The price surge isn't just retail FOMO. Big money is flowing in too. Weekly inflows into SOL investment products hit $39 million, and pre-commitments to the proposed REX-Osprey SOL ETF are now over $73 million.
Get this – corporate wallets scooped up 2.95 million SOL tokens in July alone, worth about $531 million. That's some serious accumulation.
SOL is now up more than 33% for July, crushing both Bitcoin and Ethereum. With tech upgrades like BAM rolling out, the momentum could keep going.
Usman Salis
