Solana Gains Traction as Institutional Backing and Network Upgrades Boost Outlook

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Solana (SOL) is showing strong momentum as it trades around $187 following a critical breakout above the $180 resistance level. With institutional accumulation rising and major upgrades to the network recently completed, market analysts are watching closely for a potential rally toward $192 and even $205 in the near term.

Over the past month, Solana has surged 31%, bringing its market capitalization to approximately $100 billion. This growth is supported not only by bullish price action but also by meaningful improvements to the network itself. On July 22, Solana developers increased the blockchain’s block capacity by 20%, boosting the limit to 60 million compute units (CU), a measure of processing power required for smart contracts and transactions. Mert Mumtaz, CEO and co-founder of Helius, a development platform for Solana, confirmed that this upgrade significantly increases the network’s transaction throughput.

Meanwhile, major players in the financial space are increasing their exposure to Solana. DeFi Development Corp., listed on the Nasdaq, recently announced it is one token away from holding 1 million SOL, valued at $187 million. Separately, Bit Mining Ltd. revealed plans to raise $200–$300 million to establish a Solana-based treasury. This level of institutional confidence is a strong signal that Solana is being viewed as more than just a speculative asset; it’s becoming a long-term strategic investment.

Technical analysis also supports the case for higher prices. SOL is forming an inverse head-and-shoulders pattern on the daily chart, a bullish indicator suggesting a possible reversal to the upside. A confirmed breakout above the neckline, which sits in the $200–$205 range, could project a rally toward $220 or more. The Relative Strength Index (RSI) remains below 70, indicating healthy momentum without overbought pressure.

On the retail side, platforms like Snorter Bot (SNORT) are gaining attention. Built for the Solana network, Snorter uses Telegram to help users find new tokens early, often before they hit exchanges. The project has already raised over $2.4 million through an early access sale, with tokens priced at $0.0995 and set to increase after each 24-hour cycle.

Between network upgrades, technical strength, and institutional interest, Solana is positioning itself as a top-tier blockchain contender, especially as concerns grow around centralized control in other networks and government involvement in digital finance.