With bitcoin (BTC) stuck just above $110,000 and ether (ETH) consolidating after hitting fresh records, Solana (SOL) has emerged as a standout performer in the crypto market recently.

The token traded around $211 on Monday, up 33% from early August lows, making it one of the best performers in the CoinDesk 20 Index in the past month. Against bitcoin, SOL has gained 34% over the past month, and it has strengthened 14% versus ETH since mid-August.

The rally reflects a broader rotation into altcoins, analysts said.

"The season of profit redistribution among holders of cryptocurrencies continues,” Sergei Gorev, head of risk at YouHodler, said in a market note shared with CoinDesk. He said liquidity has been moving out of BTC into second-tier tokens, with "a noticeable increase in the positi

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