Solana (SOL) has seen a notable price surge, climbing 13% over the past week to reach $218 by November 14. This rise follows a broader crypto market rally, with Bitcoin hitting a new high. SOL's price momentum is bolstered by strong onchain metrics, including a significant increase in decentralized exchange (DEX) volumes on Solana, which hit $26.1 billion, surpassing Ethereum. The total value locked in Solana's smart contracts also rose, indicating heightened user engagement. Additionally, open interest in SOL futures reached an all-time high, reflecting growing institutional interest. Meanwhile, Solana-based memecoins are also experiencing gains, further driving network activity.