Solana's price has surged 13% over the past week, reaching $218 on November 14, after rising from a low of $156 on November 5 to a two-year high of $225 on November 12. This performance is bolstered by several factors, particularly strong onchain activity, as demonstrated by record weekly DEX volumes of $26.1 billion, a 43% increase from the previous week. Solana now holds a 37% market share in DEX volume, surpassing Ethereum. Additionally, the Total Value Locked in Solana's smart contracts reached $7.9 billion, a 460% increase year-to-date. Furthermore, open interest in Solana futures has hit an all-time high of $4.54 billion. Accompanying the growth of SOL price are significant gains in Solana-based memecoins, indicating increased user engagement on the network. Such metrics suggest potential further price increases for SOL as trader optimism grows.

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