Solana Surges 6.7%, Market Cap Reclaims $102.6B Amid ETF, Institutional Demand

Solana (SOL) is back in the $100 billion club, hitting $102.6 billion on July 21. This comes after a 6.7% increase in market cap and 6.18%

Written by: Arslan Butt • Monday, July 21, 2025 • 2 min read

Last updated: Monday, July 21, 2025

Quick overview

Solana (SOL) has re-entered the $100 billion market cap club, reaching $102.6 billion on July 21, 2025.
The token's price peaked at $191.52, marking a 34.8% increase over the last month.
Institutional demand, driven by the REX-Osprey SOL + Staking ETF, has significantly contributed to Solana's recent momentum.
Currently, Solana is the 6th largest cryptocurrency, positioned just behind Binance Coin (BNB) and ahead of USD Coin (USDC).

Solana (SOL) is back in the $100 billion club, hitting $102.6 billion on July 21. This comes after a 6.7% increase in market cap and 6.18% gain in SOL’s price, with the token peaking at $191.52 in the last 24 hours. The last time Solana was above this threshold was in January 2025 when it reached an all-time high of $293.31 and $117 billion market cap.

This is the first time in H2 2025 Solana has reached this valuation level, after a big recovery from earlier declines. SOL was above $100 billion in November 2024 before macroeconomic turbulence (Trump’s blanket tariffs) triggered a broad crypto market correction.

As of latest data, Solana is the 6th largest cryptocurrency by market cap, just $9 billion behind Binance Coin (BNB) and $40 billion ahead of USD Coin (USDC).

Institutional Demand Drives Rally

Much of Solana’s current momentum is due to institutional demand. A big catalyst has been the REX-Osprey SOL + Staking ETF, which offers staking rewards – a rarity among crypto ETFs. Since launch, the fund has had consistent weekly inflows and now has $99.7 million in assets.

The ETF’s design has attracted more financial institutions to view SOL as a long-term stakeable asset. And a new wave of entrants – SOL Strategy, DeFi Development Corp, and similar firms – have started buying SOL for staking and treasury diversification.

Key Metrics:

34.8% in the last month
25.7% in the last 2 weeks
6.7% in the last 24 hours
SOL is now at $191.29

The gains have restored market confidence in Solana’s price and long-term fundamentals.

GOLD Price Chart - Source: Tradingview — GOLD Price Chart – Source: Tradingview

Solana to Go Higher

Solana’s strength suggests it can go higher if institutional inflows continue and the broader market improves. With the REX-Osprey ETF near $100 million in assets and more treasury-backed crypto strategies participating, SOL may test its early year highs in the next few weeks.If this continues, $200 is a possibility. Solana’s DeFi infrastructure and staking is attracting capital in a recovering market.

Summary:

SOL at $102.6B, first in H2 2025
$191.29, 34.8% up in the last month
REX-Osprey ETF has $99.7M
#6 by market cap, behind BNB

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.