Solana climbed above $211, briefly nearing $212, as it outperformed larger crypto peers in a market rally driven by renewed institutional demand and expanding tokenization activity.
The move comes amid a flurry of institutional and corporate maneuvers reshaping liquidity flows across major tokens. Notable developments include a strategy buying $449 million of bitcoin, Metaplanet planning to raise $3.8 billion via preferred stock to buy BTC, and BMNR adding roughly 17,000 more ETH — about 39,000 ETH in the last week. Meanwhile, ETHZilla plans to deploy $100 million in Ethereum through EtherFi even as the Ethereum Foundation reportedly prepares to sell 10,000 ETH.
Recent guidance from U.S. regulators like the SEC and CFTC has also provided a backdrop that some market participants say lowers barriers to institutional allocation. Product developments — including Coinbase’s planned Mag7 products and new crypto index futures — create more regulated on-ramps for passive and professional investors. On-chain signals such as rising Solana transactions and upticks in DeFi activity reinforce the price action, while Ethereum’s staking entry queue hitting a two-year high points to continued demand for yield-bearing exposure.
Other headline items shifting market dynamics: CEA purchased $33 million in BNB; Figure Technologies is pursuing a $526 million IPO; Gemini lifted assets to about $361 million; SmartGold launched $1.6 billion in tokenized gold aimed at US IRAs; Hong Kong’s Fosun tokenized roughly $328 million of stocks; and ONDO announced plans for 100+ tokenized stocks.
Collectively, these flows — from corporate treasuries to tokenized assets — help explain why altcoins like Solana are registering outsized moves. Institutional adoption and expanded custody services tend to concentrate larger capital allocations and can temporarily skew correlations between BTC, ETH and altcoin performance.
Why it matters: heightened institutional activity can increase liquidity but also amplify short-term volatility. Traders and investors should weigh these flows against fundamentals such as network usage, on-chain metrics, developer activity and upcoming protocol milestones.
Risk note: Cryptocurrency markets remain volatile. Past performance is not indicative of future results. This article is informational and not investment advice.
Source: Decrypt. Read the original coverage for full details.