Solana’s SOL token has reached an unprecedented peak of $263, representing a monumental recovery from its 2022 low of $8 after the FTX debacle. This resurgence has been propelled by a mix of heightened meme coin trading activity, expanding DeFi applications, and a surge in institutional interest in the Solana ecosystem.
The token’s performance also reflects optimism over regulatory progress, including a potential U.S.-based spot Solana ETF. These developments have been catalyzed by shifts in U.S. political leadership and reports of constructive dialogues between the SEC and ETF issuers following the announcement of SEC Chair Gary Gensler’s planned resignation.
About The Author
More Stories
Bitcoin rises above $87,000 while the yen weakens after Japan raises interest rates.
XRP falls alongside Bitcoin, which drops back to $85,000 after a surge.
With Bitcoin’s realized cap staying at a record $1 trillion, the four-year market cycle comes under scrutiny.