- November 11, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Solana’s rally to $222 puts SOL price within 20% of its all-time high.
Solana’s native token, SOL (SOL), surged by 35% between Oct. 5 and Oct. 11, reaching its highest level since December 2021 at $222. This movement has led traders to speculate whether the all-time high of $260 is within reach, especially after Bitcoin (BTC) crossed $84,500, driven by steady institutional inflows and anticipated regulatory clarity in the United States.
SOL has outperformed the broader altcoin market, which saw a 33% increase over the same six-day period ending Oct. 11. Investors’ optimism regarding SOL is partly fueled by the expansion in Solana’s smart contract activity, as evidenced by the total value locked (TVL).
Solana total value locked in USD. Source: DefiLlama
