Solana's native token, SOL, has reached a record high over $260, marking a significant recovery from the crypto winter that saw prices drop by more than 95%. As of November 22, 2024, SOL traded at approximately $263, reflecting an 11% increase in just 24 hours and a staggering 360% rise year-over-year. This surge is attributed to several factors, including a surge in meme coin trading, increased decentralized finance (DeFi) activity, and rising institutional interest. The recent election of a crypto-friendly presidential administration could further bolster this momentum, especially with discussions about U.S.-based Solana ETFs gaining traction after the resignation announcement of SEC Chairman Gary Gensler. The token's recovery is particularly noteworthy given its previous low of $8 in late 2022 following the collapse of major backers like FTX and Alameda Research.

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