Solana Surges 27% in a Week, Follows Ethereum and XRP's Lead
Solana (SOL) has rocketed by 27% over the past week, breaking through the US$204 mark and stealing the spotlight from fellow altcoins Ethereum (ETH) and XRP. Just a day ago, on Monday (21 July), the token was only up by low double digits — making this sudden spike a notable move in the crypto market.
The key driver behind Solana’s surge appears to be a major funding deal involving Mercurity Fintech Holding Inc (MFH) and Solana Ventures Ltd. Solana Ventures has injected US$200 million in equity funding into MFH, a fintech and blockchain company with an eye on decentralised finance (DeFi) infrastructure and real-time payment innovation.
The strategic funding aims to bolster Solana's treasury and provide capital for projects focused on scalable blockchain payment systems and next-gen DeFi protocols.
According to Wilfred Daye, Chief Strategy Officer at MFH, the firm is moving beyond traditional fintech infrastructure to engage more directly in the value creation and utility of decentralised networks.
“Solana is emerging as a high-performance layer for tokenised assets, real-time payments, and institutional-grade DeFi — combining speed, cost efficiency, and increasing regulatory acceptance,” Daye said in a statement.
The investment signals growing confidence in Solana’s long-term utility and scalability, particularly as it continues to differentiate itself through low-cost, high-speed transactions.
Brian Rudick, Chief Strategy Officer at Upexi, also weighed in, attributing Solana’s recent growth in part to rising optimism around digital asset regulation in the United States.
“There’s been a clear shift in sentiment. The US regulatory landscape is slowly turning more favourable for digital assets, and that’s pushing development on-chain — which tends to benefit altcoins like Ethereum, Solana, and newer tokens more than Bitcoin,” Rudick explained.
He also pointed out that an increasing number of corporate digital asset treasuries are diversifying away from Bitcoin, opting instead for altcoins like Ethereum and Solana, which offer broader use cases and better scalability for enterprise and DeFi applications.
What’s Next for Solana?
While volatility remains a constant in the crypto markets, Solana's latest breakout — backed by institutional capital and a growing DeFi presence — suggests the project is gaining serious traction. As more decentralised protocols look to build on scalable, fast blockchains, Solana could continue to attract developers, investors, and partnerships.
However, with markets still digesting potential regulatory frameworks globally, much of Solana’s future success may also hinge on its ability to maintain compliance while scaling up innovation.
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