Solana breaks new all-time high at $264.31

On November 22, Solana (SOL) hit a new all-time high of $264.31, marking impressive resilience two years after FTX's collapse! This 11% increase in 24 hours demonstrates investors' renewed confidence in Solana's crypto ecosystem.

Crypto: Solana hits new all-time high

This November 22, 2024, Solana (SOL) reached a new historic record! This marks a significant milestone two years after the fall of the FTX exchange, which led to a drop in the prices of the token of this level 1 blockchain. According to the data, Solana reached $264.31 on Coinbase, recording a notable increase of 11% in 24 hours.

This rise in SOL price comes hours after Solana surpassed Ethereum in trading volume on decentralized exchanges (DEX), demonstrating its effectiveness and growing popularity. Surpassing Ethereum, Solana is attracting more and more users with its high performance and low transaction fees, thereby consolidating its position in the crypto ecosystem.

The key factors of this increase

SOL's recent price increase can be attributed to several factors. Notably, technological developments, strategic partnerships and increased adoption by crypto users and developers. Solana continues to position itself as a viable and competitive alternative to other Tier 1 blockchains, attracting more attention from investors and developers around the world.

This surge in SOL also reflects remarkable resilience and renewed investor confidence in Solana technology. Since the FTX disaster, this crypto ecosystem has worked tirelessly to strengthen its security, improve its performance, and expand its adoption. These efforts seem to be paying off, as evidenced by this new record.

In short, Solana's new record is a positive sign for the future of blockchain and its ecosystem. Additionally, the SEC's impending approval of a Solana ETF could further propel SOL's price. This shows that, despite past challenges, Solana is able to bounce back and thrive, providing promising opportunities for crypto investors.