Momentum returns to Solana: intraday rebound to ~$192 as liquidity rotates into L1 throughput plays

During the prior hour, SOL ticked roughly 2.1% higher to about $192, with exchange-reported volume near $9.9 billion, as traders rotated back into high-throughput layer-one narratives. Flows favored venues with deeper perps liquidity, and market makers tightened spreads as basis normalized. With ETF speculation centered on Ethereum timelines, rotational demand spilled into alternative smart-contract assets, though correlations to BTC remained elevated. On-chain watchers pointed to steady active addresses and DEX turnover, but sustainability will depend on broader risk appetite, gas-adjusted execution costs, and developer pipeline depth through year-end upgrade milestones.