Solana Reaches New All-Time High Price of $263
SOL reached a new all-time high of $263, according to data from CoinGecko.
Solana’s native token price dropped significantly during the FTX exchange's collapse, trading in the single digits in late 2022. Regulatory concerns arose when the SEC labeled SOL as a security. However, Solana has rebounded, becoming one of the few major cryptoassets to set a price record in this market cycle.
Two years ago, SOL was priced under $12, indicating an appreciation of over 2,000% since then.
Recent weeks have seen a surge in user demand for transactions in Solana blocks, driven by growth in the memecoin sector. This trend began with AI agent project-related memecoins and was further accelerated by Donald Trump’s presidential election campaign.
Moonpay reported an all-time record for Solana transactions on its platform recently.
Solana’s “real economic value” (REV) metric, which measures the additional fees traders pay for expedited transaction processing, exceeded $100 million last week, as per Blockworks Research.
REV can indicate demand for Solana blockspace; it was under $10 million weekly just two months ago. Current trends suggest that Solana’s REV could approach $200 million this week.
Additionally, speculation arose regarding the potential approval of a SOL ETF by the SEC under a Trump administration, contributing to the recent price increase.