Solana Surges 20% to New All-Time High, Is SOL token Burning coming Today?

Published by
Solana Surges 20% to New All-Time High, Is SOL token Burning coming Today?

Dodging the broader market correction, Solana (SOL) continues to make new highs in the market. Over the last 24 hours, Solana (SOL) has surged another 20% making a new all-time high of $199.

As of press time, Solana’s SOL token is trading 20.30% up at $118. With a market cap of $34.3 billion, Solana also becomes the eighth largest cryptocurrency toppling players like Polkadot (DOT) and USDC. Solana’s SOL crypto now eyes a move above Dogecoin (DOGE) which is the seventh-largest player as of now.

Amid the solid price rally, Solana is currently dominating all conversations in the crypto space. As on-chain data provider Santiment reports:

Solana is making up nearly 10% of #crypto conversations right now as it blasted off to a new #AllTimeHigh of $106.82. As and most other #altcoins range, volatile & pumping coins like $SOL will continue to intrigue traders looking for action.

Courtesy: Santiment

Furthermore, Solana is all set to unveil a new “Ignition” feature later today. Last week, Solana released a video teaser showing a burning flame. While it has little details as of now, the community is guessing about a possible SOL token burn. This will further put supply pressure and drive SOL prices higher.

Solana Draws Institutional Attention

As per the recent report from institutional asset manager CoinShares, Solana (SOL) has been on the radar of institutional players. As per the Digital Assets Fund Flow weekly report, Solana saw a net institutional inflow of US$2.7 million over the last week.

The report also notes that Solana has overtaken Bitcoin Cash’s assets under management (AUM) now totaling US$15.7 million. Last week, Solana also received praises from Cardano founder Charles Hoskinson.

In a tweet, Hoskinson showed more interest in learning about the Solana ecosystem. “Solana you guys seem to be making waves. Congratulations. Where can I learn more?” he wrote.

The altcoin has successfully managed to defy all bearish trends in the market. The SOL price rally started somewhere around mid-August. On the monthly chart, Solana (SOL) has gained 3.3x or we can say 230% all the way moving past $100 and hitting new all-time highs.

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

First Spot XRP ETF Hits Milestone as CME Flags Institutional Interest

Institutional momentum in XRP is accelerating as the first U.S. spot XRP ETF ($XRPR) reached…

October 25, 2025
  • Price Analysis

Can Hype Price Hit $50 After Robinhood Listing?

HYPE, the native token of the decentralized exchange Hyperliquid, has witnessed a notable price surge…

October 24, 2025
  • News

XRP News: Ripple Unveils ‘Ripple Prime’ After Closing $1.25B Hidden Road Deal

In the latest XRP news, Ripple has introduced 'Ripple Prime,' which it plans to integrate…

October 24, 2025
  • News

Traders Price In Two More Fed Rate Cuts This Year After Soft Inflation Data

Traders are betting on the FOMC to make two more rate cuts this year following…

October 24, 2025
  • News

Crypto.com Joins Ripple in Banking License Bid Amid Industry Push for Market Structure Bill

Crypto.com has submitted an application with the U.S. National Trust Bank Charter. It aims to…

October 24, 2025
  • Bitcoin News

Breaking: U.S. CPI Comes In Lower Than Expectations, Bitcoin Rises

The U.S. CPI inflation data came in below expectations, increasing the odds of two more…

October 24, 2025