Solana Hits All-Time High Price Two Years After FTX Nearly Sent It to Zero – Decrypt

After three long years, Solana (SOL) has finally broken its all-time high record, setting a new milestone of over $260 on Thursday.

Solana surpassed a record high of $260 early Thursday afternoon, according to Coinbase data, adding to the asset's recent strength following crypto candidate Donald Trump's victory in the US presidential election earlier this month. Continued.

The price also rose in response to information that SEC Chairman Gary Gensler, who led the regulator's crackdown on the virtual currency industry, will resign on January 20, 2025, following the inauguration of President Trump.

SOL is up 11% on the day, 23% over the past week, and 55% for the month. And to really put Solana's journey into perspective, the token's one-year appreciation has now reached 386%, increasing more than 4x in value during that period.

Solana soared to an all-time high price peak in 2021, garnering huge hype as a faster and cheaper rival to Ethereum. However, over the next year, the topic gradually died down due to the growing cryptocurrency bear market and technical issues such as network downtime.

Ultimately, SOLANA was so closely aligned with the company and its infamous founder, Sam Bankman Fried, that by the end of 2022, SOL's price would drop to $8 following the collapse of crypto exchange FTX. It plummeted close.

But in the two years since then, Solana has made progress, with followers continuing to build out the chain as developers work to improve stability, and Solana Labs also works on mobile phone hardware and apps. has been expanded.

Of course, Solana is not the only major coin to recently hit an all-time high. Bitcoin surpassed its all-time high of nearly $74,000 on Election Day and has continued to rise ever since, topping $98,000 for the first time early Thursday.