Solana's native token, SOL, has reached an all-time high of $263, marking a significant rebound since its dramatic fall to single digits during the FTX exchange crisis in late 2022. Following a lackluster 2023, attributed to SEC regulatory concerns regarding SOL being classified as a security, the asset has soared over 2,000% in value over the past two years, from just under $12. A surge in user demand to make transactions on the Solana blockchain has been fueled by growth in the memecoin market, with engagement spiking significantly amid developments linked to Donald Trump's presidential campaign. Recent metrics indicate a record of over $100 million in Solana's real economic value (REV) as traders strive to expedite transaction processing. Additionally, speculation around the potential approval of a SOL ETF under a future Trump administration is heightening excitement among investors. This momentum positions Solana among the few major cryptocurrencies to achieve a peak in this market cycle.

Source 🔗