Bulls and longers are happy: Solana’s price broke through $200, and more than 99% of XRP holders are in the profit zone

Solana (SOL) rose above the $200 mark for the first time since March, although the price has now dropped to $198. The daily trading volume rebounded by 62.9% — to $14.64 billion.

One of the reasons for this was that Jito Labs introduced an important update to the way Solana blocks are created. This company’s validator client has 87% of all Solana stakes. Jito will start routing transactions through a piece of infrastructure they call the Block Assembly Marketplace (BAM). Jito claims that the BAM will limit toxic MEVsMaximal Extractable Value — the maximum value that can be extracted from a blockchain by including, excluding, or reordering transactions in a block., make the blockchain more suitable for exchanges with perpetual contracts and a central limit order book (CLOB), and allow applications to share revenue with users.

In addition, recently NFT sales have intensified most of which are based on Ethereum, Bitcoin, and Solana.

On a technical level, BAM relies on a network of scheduler nodes that use trusted execution environments (TEEs) to privately order transactions before they reach the validators. This means using nodes that privately decide the order of transactions before they reach the main Solana network. This will help avoid front-runningPlacing trades based on insider knowledge to profit from market movements before a large transaction is executed.. In addition, BAM is implementing a plugin system that allows developers to create custom rules to sort transactions, whether it’s prioritizing certain types of trades, combining orders, or charging access fees.

In addition, 2.95 million SOL worth $531 million were accumulated by corporate wallets in July. Overall, SOL tokens grew by 33%, outperforming ETH and BTC.

Meanwhile, for the first time since the end of 2024, 90% of addresses in the Ethereum network have become profitable as their purchase price for ETH was below $3,779. XRP is now in the same position.

As it turned out, after the price rose to $3.64 (it has now dropped to $3.46), 99.6% of the holders of the coins in circulation are in profit. But this 3.49% drop in price was the result of profit-taking. Some traders could not stand it and started selling their XRP after a 77% rise over the past 30 days.