Solana's native token, SOL, has bounced back 8% after falling to $222 on Nov. 26, despite skepticism from investors due to a significant drop from its all-time high of $263.80. This uncertainty is compounded by a modest 1% gain for SOL compared to a 12% rise in the altcoin market over the same period. Nevertheless, Solana's fundamentals appear strong, with a 48% increase in total value locked (TVL) in the preceding month. Solana's growth outpaces BNB Chain and Tron’s TVL increases, with top DApps like Jito and Raydium leading the charge. On the other hand, while SOL and Ethereum may sometimes seem competitive, both networks show potential for independent growth. Currently, SOL futures indicate a 23% premium on long positions, suggesting bullish sentiment, though this could also signify a risk for price corrections if sentiment shifts. Given its current market cap being significantly lower than Ethereum's, there remains a possibility for further price appreciation for SOL.

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