Solana's SOL outperformed the broader crypto market on Wednesday, climbing 7.68% in 24 hours to trade at $208.24, according to CoinDesk Data. By comparison, the CoinDesk 20 Index (CD20) rose 2.89% and the total crypto market cap gained just 1.6% during the same period.

Analysts said Solana’s strong performance reflects a combination of technical momentum and structural demand.

Scott Melker, a trader known as the “Wolf of All Streets,” argued that Solana is now at a critical level against bitcoin. He said a breakout here could make SOL the “darling” of the next altcoin cycle. His chart showed SOL pressing into resistance against BTC, a pairing that often signals whether a token can outperform the broader market.

Another analyst, Lark Davis, was more direct, calling Solana the “catch-up t

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