Solana (SOL) surpassed its previous all-time high of $260, marking a full recovery two years after the FTX collapse sent its price plummeting to $8.
A Long Road to Recovery
The price rally reflects Solana’s resilience, with its value surging 386% year-over-year. Developers have focused on stabilizing the network and expanding Solana Labs’ ecosystem, including ventures into mobile technology.Market Sentiment Boost
The rally coincides with positive sentiment following Donald Trump’s election victory and the resignation of SEC Chair Gary Gensler. Gensler’s tenure was marked by strict enforcement actions against crypto firms, creating regulatory uncertainty.Solana’s Growing Role
As a faster and cheaper alternative to Ethereum, Solana continues to attract developers and users. Its recovery positions it as a key competitor in the blockchain ecosystem, joining Bitcoin in hitting record highs.
Read the full article on
decrypt.
