Solana surpasses $260 to reach a new all-time high two years after the FTX collapse

Solana (SOL) has recorded an impressive recovery since the collapse of FTX in November 2022, when its price fell below $10. Currently, SOL is only down 5.7% from its all-time high of $259.96, achieved in November 2021. Since the beginning of November 2023, the price of SOL has increased by approximately 329.2%.

The recent surge of Solana may be driven by the momentum of Bitcoin, along with the election results in the United States and increased interest in SOL-based memecoins, such as Pepe and Bonk, which have attracted attention recently. In the market, SOL has joined the group of cryptocurrencies with a market capitalization over $100 billion and reached $264.3 at the current time, the highest since November 2021.

Analysts predict that SOL is likely to continue rising in the near future, with some estimates suggesting it could reach a new high of around $280 in December 2024.