In a cautious market environment, Solana has recently experienced a relatively independent surge. Foreign media reports that SOL rose nearly 5% on June 20th, marking its strongest single-day performance in nearly two weeks and significantly outperforming the overall gains of major altcoins, which totaled approximately 1.5% during the same period.

This surge also propelled SOL above $170 and pushed the SOL/ETH ratio up by 4.6% in a single day. This is the largest single-day increase in the ratio in nearly three weeks, indicating that funds are reassessing the relative strength of Solana and Ethereum.

Official response to accusations of "market manipulation"

As the price surged, the market initially attributed the rally to concentrated promotion on social media platforms. In response, the official Solana account stated that without prior monitoring of the ecosystem's progress, the recent price action could appear to be driven by concentrated promotion; however, for long-term observers, this change was not sudden.

Foreign media believe that the core meaning of this statement is that the market is gradually downplaying the notion that "prices are driven solely by hype and speculation." This is because, in addition to price performance, coordination between on-chain data and funding mechanisms is also emerging simultaneously.

Large whale buying and a strengthening ratio occurred simultaneously.

The report mentioned a recent large single purchase of 235,000 SOL tokens, amounting to approximately $16.55 million. While this doesn't directly prove the market has bottomed out, in a period where risk appetite remains cautious, such a large single purchase is typically seen as a strong price signal.

At the same time, the SOL/ETH ratio has climbed back above its 200-day moving average. This is the first time this has happened since May 2025, indicating a shift in market pricing of Solana relative to Ethereum.

• SOL rose nearly 5% in a single day on June 20.
• The SOL/ETH ratio rose 4.6% in a single day.
• A whale made a single purchase of approximately 235,000 SOL tokens.

The adjustment of the token economy this year has become a focus of attention.

Besides short-term capital inflows, the market is also focused on the potential token economic adjustments that Solana may implement this year. Anza CEO Ben Hawkins stated that the two key proposals, SIMD-550 and SIMD-553, are still expected to progress this year.

According to data cited in the report, if the relevant plan is implemented, the deinflation rate of SOL may increase to 30%, and the cumulative reduction in token issuance over the next six years will be approximately $1.36 billion. At the same time, the daily token burning may also increase from approximately 650 tokens to a maximum of 9,000 tokens.

Foreign media believe that these expectations have led the market to view Solana's recent surge as a result of both fundamental and liquidity factors, rather than just a short-term sentiment-driven phenomenon. If this relative strength continues, Solana's performance in the second half of 2026 may remain a key focus for the market.