Missed Ethereum’s $1,400 Surge? Here’s Why SOL Might Be the Next Major Winner

Solana’s SOL surged 7.7% in 24 hours, trading at $208.24, outpacing the broader crypto market. During the same period, the CoinDesk 20 Index rose 2.9%, while total crypto market capitalization increased just 1.6%, according to CoinDesk Data.

Analysts attribute SOL’s rally to a mix of technical momentum, structural demand, and growing institutional activity.

Technical and Market Drivers

Trader Scott Melker, known as the “Wolf of All Streets,” highlighted SOL’s critical level against bitcoin, noting that a breakout here could position SOL as the next altcoin market leader. His charts show SOL pressing into BTC resistance—a key signal for potential outperformance.

Crypto analyst Lark Davis described SOL as the “catch-up trade” for investors who missed Ethereum’s breakout from $1,400 last cycle. He pointed to three main drivers:

Rise of SOL-based treasury companies modeled on bitcoin accumulation firms.
Potential approval of a spot SOL ETF by the U.S. SEC.
Increasing institutional participation, potentially channeling billions into SOL.

Risks and Caution

Analyst Altcoin Sherpa warned that while SOL’s momentum is strong, short-term rallies often retrace. He recommended taking profits between $205–$215 or waiting for clearer entry points.

Institutional Adoption

DeFi asset manager Sentora noted that over $820 million in SOL is already held in corporate treasuries. Ethereum had similar holdings before reaching nearly $20 billion, suggesting a potential growth path for SOL if adoption accelerates.

Adding to this, Chorus One partnered with Delphi Consulting to launch a new institutional-grade Solana validator, signaling deeper long-term participation by institutions in the network.