The native token of the Solana blockchain, SOL, has broken its all-time high, surpassing its previous record set in October 2021. After experiencing a significant decline in value during the crypto winter, SOL has made a remarkable recovery, trading at just above $263 at the time of writing, representing an 11% increase in the past 24 hours and a nearly 360% increase year-over-year. This resurgence comes after the downfall of prominent backers of the Solana ecosystem, including Sam Bankman-Fried's crypto empire FTX and Alameda Research. Solana is currently benefiting from various factors, including a thriving meme coin trading market, growing decentralized finance (DeFi) activity, and increasing institutional interest. The possibility of a U.S.-based spot Solana exchange-traded fund (ETF) has also become more likely following the election of crypto-friendly Donald Trump and the announcement of SEC Chairman Gary Gensler's intended resignation. Talks between the SEC and potential SOL ETF issuers have been reported as constructive.



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