Solana's moving on a high trend

SOL was back in the $20s in October as SBF was on trial. Then, all of a sudden, Solana and SOL turned into just about the hottest things going. SOL is above $100 now for the first time since early 2022 and, at $47 billion, it's the fifth-biggest crypto – and it was briefly fourth-biggest earlier this week.

Solana (SOL) generated tremendous hype in 2021, with fans touting its ability to solve the Ethereum (ETH) blockchain's core problem. Solana, it was promised, would be a cheaper and faster place to handle transactions, a better springboard for decentralized finance, or DeFi, and other activities powered by smart contracts.

Then came 2022 and all that pain. Things looked bleak for Solana (and, let's be honest, most of crypto). It didn't help that Sam Bankman-Fried was closely linked to Solana and its SOL token, which sank below $10.

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