Solana's SOL Surges to Record High Above $260

The token of late has benefitted from multiple catalysts, including meme coin action, growing DeFi activity on the Solana network and the coming crypto-friendly presidential administration. Continuing a massive comeback from a crypto winter price collapse of more than 95%, (SOL), the native token of the Solana blockchain, has shattered its all-time high reached in October 2021. At press time, SOL was trading just above $263, higher by 11% over the past 24 hours and nearly 360% on a year-over-year basis. The new record came two years after the downfall of Sam Bankman-Fried's crypto empire FTX and Alameda Research, prominent backers of the Solana ecosystem. SOL plummeted to as low as $8 late in 2022 before beginning its turnaround to the current level. Now having survived 2022's near-fatal blow, Solana is benefitting from multiple catalysts, including bustling meme coin trading and surging decentralized finance (DeFi) activity on the network, as well as increasing institutional interest. Of that institutional interest, the odds of there soon being a U.S.-based spot Solana ETF have increased greatly with the election of crypto-friendly Donald Trump two weeks ago. Earlier Thursday, crypto foe and SEC Chairman Gary Gensler announced his intention to fully resign from the commission on Jan. 20 as Trump takes office. Also earlier today, Fox News reported on constructive talks between the SEC and possible SOL ETF issuers. https://www.coindesk.com/markets/2024/11/22/solanas-sol-surges-to-record-high-above-260/ #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple