The cryptocurrency market recently had one of its most significant rallies in recent times. Bitcoin (BTC) climbed to an all-time high of $122,834 on July 14. Binance’s BNB and Ripple’s XRP token also climbed to a new peak of $808.09 and $3.65, respectively. Other assets also experienced substantial breakouts, but are yet to register new all-time highs. Let’s discuss if Solana (SOL) can follow BTC, XRP, and BNB’s path to a new all-time high.

Can Solana Rally To A New All-Time High?

Solana (SOL) breached the $200 mark for the first time since February of this year. SOL also hit an all-time high of $293.31 in January. Despite the bullish start to the year, the asset struggled to gain momentum for the majority of the first half of 2025 amid bearish market conditions. SOL’s price began to surge after pro-crypto legal moves in the US. The US House of Representatives passed the GENIUS, Clarity, and anti-CBDC acts and bills, leading to a rise in investor sentiment.

The market rally has since faded, and the crypto sector is facing a considerable correction. According to CoinGecko’s SOL data, Solana (SOL) has dipped 6.4% in the last 24 hours. Despite the dip, the asset continues to trade in the green zone in the other frames. SOL’s price is up 7.1% in the weekly charts, 16.9% in the 14-day charts, 28.8% over the previous month, and 5.2% since July 2024. The recent correction puts a question mark on whether SOL can climb to a new all-time high over the coming weeks.

Also Read: Solana Could Double in Price, Surge 100% & Reach $331

SOL has been one of the most resilient cryptocurrencies of the last few years. Since its crash to sub-$9 levels in 2022, SOL has made an incredible comeback. The asset has hit multiple all-time highs over the last year. There is a possibility of the US SEC approving a spot Solana ETF sometime this year. The approval of an ETF could lead to a massive increase in institutional investments for the asset. Such a development could lead to Solana climbing to a new all-time high.