<ul data-eligibleForWebStory="true">Solana (SOL) has surged to $157, up by 7% in the last 24 hours and 2% in the last week.The rally is attributed to rising institutional interest and the launch of Bybit's Decentralised Exchange on Solana.Traders' confidence has grown, with daily trading volume rising by 98% to $4.5 billion.Analysts believe SOL's recent upsurge is fueled by Bybit's Solana-based DEX launch and increasing adoption.Bybit's decentralized exchange, Byreal, set to launch on Solana's mainnet, is anticipated to boost SOL's price.Byreal aims to compete in the $20.3 billion DEX industry with advanced protocols for low slippage and MEV protection.Uniswap leads DEX platforms with 24% market share, while Raydium dominates Solana ecosystem with 55% TVL.SOL's price rise is also influenced by rising institutional adoption, highlighted by investments from MemeStrategy and DeFi Development Corp.Analyzing the price chart, analysts foresee SOL surging to $168 in the short term and potentially reaching $174 or higher.Long-term projections suggest SOL reaching $2000, comparable to Ethereum's previous market cap, and even possibly hitting $4000.Analyst Crypto Curb hints at a $2000 price level for SOL in the long term.Renowned trader Ali Martinez predicts SOL could reach $4000 over time.