According to Cointelegraph, Solana's native token SOL rebounded by 13% from $203.30 on December 10, returning to the $230 level. Market participants are watching whether the price will break through $260.

SOL reached a new high of $264.50 on November 22, 2024, but then performed poorly, with a price drop of 12%. Solana's SPL tokens, including meme coins, have seen significant declines in trading volume and price recently.

The on-chain transaction volume of the Solana network decreased by 63% in the week ending December 9. Ethereum, BNB Chain, and Avalanche also experienced similar declines.