Solana Price Hits 3-Year High—Up 2,500% Since Post-FTX Low

Solana has continued rising following final week’s U.S. election, reaching a value level not seen since SOL’s unique 2021 surge—marking a virtually 2,500% rise for the reason that coin tumbled to a grim low in 2022 after crypto change FTX collapsed.

SOL popped as excessive as $214 early Sunday, although it has dipped since to a current price of about $210.

Even so, Solana is up 5% on the day and 29% over the past seven days, pushing its 30-day rise to 44%, CoinGecko information reveals.

The final time Solana was $214 was manner again in early December 2021, almost three years in the past, when it was step by step trickling down after setting an all-time excessive of about $260 the earlier month.

Solana fell quick in early 2022 after which once more in late spring as a bear market began to grab the broader crypto business.

Including insult to harm was November 2022’s collapse of the crypto change FTX, which impacted Solana greater than another main coin on account of shut associations with the agency and FTX founder Sam Bankman-Fried.

Simply earlier than the top of 2022, SOL fell as little as $8.30, in accordance with information from CoinGecko. The plunge was framed as an existential disaster by some builders within the house.

However SOL regained a little bit of floor early within the yr after which lastly began climbing within the final quarter of the yr, touching $100 by the top of 2023.

Now, it is 20% away from its all-time excessive, and at immediately’s peak—it has risen almost 2,500% from that low level in late 2022.

Each main crypto is surging since final Tuesday when pro-crypto candidate Donald Trump secured a second time period within the White Home.

Bitcoin surged to a fresh all-time high price that night and has continued gaining, reaching one other peak above the $81,000 mark Sunday afternoon.

To some extent, Solana is using the identical wave as different cash.

But it surely’s outpaced Bitcoin and lots of different cash this week, partially on account of obvious optimism {that a} Trump administration—together with a likely new Securities and Exchange Commission (SEC) head—will result in spot Solana ETF approvals, in addition to put to mattress the regulator’s allegations that SOL is an unregistered safety.

Edited by Sebastian Sinclair