Solana's SOL Surges to Record High Above $260
Summary
Solana's native token, SOL, has surpassed its previous all-time high from October 2021, trading above $263. This marks an increase of 11% in the past 24 hours and nearly 360% year-over-year. After plummeting to $8 in late 2022 due to the collapse of FTX and Alameda Research, SOL has rebounded significantly. Key factors driving this recovery include active meme coin trading, rising decentralized finance (DeFi) activity, and growing institutional interest. The likelihood of a U.S.-based spot Solana ETF has increased with Donald Trump's election and SEC Chairman Gary Gensler's announced resignation.
