After tumbling to nearly $8 in 2022, Solana (SOL) has successfully rebounded, crossing the $260 mark for the first time on November 22, 2024. The cryptocurrency's rise follows a series of positive developments including Donald Trump's recent election victory, which reportedly favors crypto, and the anticipated departure of SEC Chairman Gary Gensler. Solana has surged 11% in just one day, 23% over the past week, and has increased 55% monthly, culminating in a staggering 386% gain over the last year. This milestone follows a challenging period for Solana after the dramatic fallout from the FTX collapse, which linked Solana closely to the exchange and its founder, Sam Bankman-Fried. Despite past hurdles, developers are committed to enhancing the network's stability, and Solana Labs is expanding its ventures into mobile technology. Along with Solana, other cryptocurrencies are also setting new price records, marking a significant recovery in the market.

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