Solana
Network player Jito has surged past the $200 mark for the first time since March.
The token jumped nearly 9% in the last 24 hours, peaking at $203 before making a small profit. Sol’s Rally is supported by a strong trend towards Derivatives, with Sol CD20 products gaining 8.87% gain and volume to nearly 4.87 million units per Coindesk analysis.
The breakout follows the announcement of BAM, a new high-performance block construction architecture developed by Jito Labs and the Jito Foundation. BAM, which is expected to be published in the coming weeks, will introduce dedicated layers for transaction sequences, promising execution, minimizing MEVs, and programmable control of block space.
“Solana has skyrocketed beyond its significant price level at $200 after the announcement of the Block Assembly Marketplace, which will create a new system for transaction processing,” Nick Ruck, director of LVRG Research, shared in a note to Coindesk. “Investors were bullish as developers increased privacy and flexibility across the network and significantly increased efficiency in Solana trading.”
“Traders believe Solana is oversold as developers continue to be built on blockchain despite the downfall of the Memecoin market. We are optimistic that Solana can be high as an innovative hub with new opportunities for developers and traders,” added Ruck.
At the technical level, BAM relies on a network of scheduler nodes before reaching the variator, using private sequence transactions from a trusted execution environment (TEE).
This means using nodes that personally determine the order of transactions before hitting the main Solana network, avoiding frontrunning and ensuring fairness.
Additionally, BAM introduces a plugin system that allows you to create custom rules for sorting transactions, such as prioritizing certain types of transactions, bundle orders, and billing for access. In short, Blockspace is now programmable and anyone building in Solana can make money by shaping how the space is used.
On the other hand, the strength of SOL comes from an increase in institutional benefits.
The weekly inflow to Sol Investment products reaches $39 million, with the proposed pre-commitment to the Rex-Sosprey Sol Etf now totaling over $73 million. Data from SOSOValue shows that around $531 million worth of SOL 2.95 million has been accumulated by corporate wallets so far in July.
Sol rose more than 33% in July, surpassing both Bitcoin and Ether. Technical improvements such as BAM deployments may continue to follow suit.