cryptojournalist
Two years after the FTX meltdown, Solana (SOL) has hit a new peak of $264.31 on Coinbase, climbing 11% in just one day. Back in 2022, it dropped below $10 when FTX’s collapse shook the market.
Solana’s Big Comeback
2024 has been a breakout year for Solana, with its price soaring 160%. Some experts think it could hit $400 if it keeps this momentum.
What’s Driving the Surge?
A lot of excitement stems from ETF filings by big names like Bitwise and VanEck. Plus, Solana is super popular for making memecoins because it’s affordable and easy to use. Its DeFi ecosystem is booming too, with over $8.8 billion locked in—a 500% jump this year.
The Crypto Market Is Booming
It’s not just Solana. The entire crypto market is buzzing, helped by optimism about lighter regulations under Trump and news that SEC Chair Gary Gensler, a crypto critic, will step down soon. As of Nov. 22, the total crypto market cap reached $3.42 trillion.
Other altcoins are also thriving. XRP is up 27%, while Cardano and Avalanche are posting strong gains too.
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