Solana's native token (SOL) has seen a 17% increase between July 7 and July 9, bouncing back to the $140 level. Currently trading at $141, the bullish trend has traders speculating if SOL could surpass the $200 mark. This surge in trading activity comes as VanEck and 21Shares apply to the US Securities and Exchange Commission for a spot Solana exchange-traded fund (ETF). If approved, this could potentially drive up the price of SOL significantly. Meanwhile, Solana's network activity and scaling solutions are also contributing to its performance, with a 7.27% increase in transaction volume among top Solana DApps in the last 24 hours.