Solana On The Rise, Numbers That Surprise The Crypto Market

The crypto Solana (SOL) has just crossed a historic milestone by reaching 214 dollars, its highest level since December 2021. This spectacular performance marks a rebound of 2,500% since its post-FTX all-time low.

Solana achieves a spectacular rebound of 2,500% post-FTX

On Sunday, November 10, 2024, Solana reached a peak of 214 dollars on major exchange platforms, before stabilizing around 210 dollars. This performance comes in a particularly favorable context for the entire crypto market, with notably a Bitcoin crossing the 81,000 dollar mark.

This stunning ascent makes perfect sense when compared to the low of 8.30 dollars reached at the end of 2022, at the height of the FTX crisis. At that time, many analysts wondered about the very survival of the project, due to its close ties with Sam Bankman-Fried and his collapsed exchange platform.

The token now shows impressive performances with a 29% increase over the week and a 44% rise over the month, according to CoinGecko data. It is now only 20% away from its all-time high of 260 dollars set in November 2021.

The catalysts of an unexpected renaissance

The results of the US elections played a decisive role in this bullish dynamic. The victory of Donald Trump, known for his pro-cryptocurrency positions, has given new momentum to the entire sector.

Investors are particularly anticipating regulatory easing under the future Trump administration, with a probable change at the head of the SEC. This outlook suggests the possibility of approval of Solana ETFs, as well as the end of the lawsuits regarding the classification of SOL as an unregistered security.

Beyond the political context, Solana also benefits from solid fundamentals. The ecosystem has demonstrated its ability to rebuild after the FTX crisis, attracting new developers and innovative projects that reinforce its technical legitimacy.

The resurrection of Solana perfectly illustrates the cyclical nature of the crypto market, where periods of crisis can precede spectacular rebounds. As the token approaches its historical peaks, the crypto community watches closely this success story that redefines the possibilities in the industry.