Solana's native token, SOL, reached an all-time high of $264.50 on November 22, fueled by Bitcoin's surge toward $100,000 and increasing interest in memecoins. This rise was accompanied by significant gains in various Solana-based tokens, many exceeding 100% in value. Currently, Solana has maintained over $6 billion in daily decentralized exchange (DEX) trading activity, holding a notable 45% market share. Analysts suggest that SOL could see further gains given its current market cap of $121 billion, which remains 70% lower than Ethereum's. The total value locked (TVL) on Solana is $9.2 billion, outperforming BNB Chain. Over the past week, Solana recorded 29.3 million unique active addresses interacting with its DApps, showing a sharp increase in decentralized applications activity compared to other networks. However, there are risks associated with high leverage among traders that could impact SOL's price stability. Despite potential market volatility, Solana's robust performance suggests a bullish outlook for SOL, indicating potential for more upward movement.

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