Solana rallied sharply today, climbing roughly 13% in 24 hours as a wave of institutional tokenization news and heavy trading activity boosted market sentiment. SOL traded around $196.3 with 24‑hour volatility near 12.0%, a market cap of about $105.8 billion and 24‑hour volume surging to roughly $11.2–11.5 billion.
The move was driven in large part by CMB International’s decision to tokenize its Hong Kong–Singapore Mutual Recognition Fund on Solana, creating the CMBMINT token in partnership with DigiFT and OnChain. The announcement — which highlights growing confidence in Solana’s throughput and smart‑contract ecosystem — underscores an accelerating institutional push to bring traditional funds on‑chain.
Technically, analysts pointed to a breakout that could propel SOL toward a near‑term $215 target, after price recovered from a turbulent first quarter and a January all‑time high of $294. SOL previously peaked at $205 on July 23 before a period of consolidation; today’s volume spike and momentum have reignited bullish expectations.
On‑chain activity also showed concentrated movement from meme‑coin related accounts. Pump.fun deposited large amounts of SOL into Kraken instead of executing a planned buyback: one recent transfer was 86,255 SOL (~$16.2M), and Pump.fun has moved a total of 3.93 million SOL (~$715.5M) to Kraken, selling about 264,373 SOL for $41.64M USDC at an average near $158. Those flows illustrate both elevated liquidity and potential near‑term selling pressure.
The tokenization of established funds and rising institutional flows are a clear win for Solana’s narrative, but high volatility and concentrated on‑chain sales remain risk factors investors should monitor as the market digests these developments.
