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Solana price has recently reached an all-time of $263.70 on November 22, 2024, a long-awaited recovery, rising over 32 times, since it dropped to as low as $8 in 2022. This has filled the cryptocurrency market with excitement as it coincides with the impressive performance of Bitcoin price, approaching the coveted $100,000. This new development potentially signals a positive trend for altcoins like Rexas Finance (RXS). Solana Price Soars to New All-Time High of $263.70 Solana Price Remarkable Journey Solana faced obstacles on its way to reaching its current peak. Following its recording high in 2021, the environment encountered challenges in the 2022 bear market due to network downtimes and the downfall of FTX. Nevertheless, SOL has seen a significant recovery thanks to the blockchain’s robustness, as well as an expanding ecosystem and advancements in scalability. Adding to the optimism, a prominent whale recently accumulated 100,000 SOL tokens, worth $23.86 million. According to Lookonchain, the investor  immediately to signal confidence in Solana’s long-term potential. With a total holding of 231,919 SOL valued at $55.58 million, this strategic move underscores the renewed belief in Solana as a top-tier blockchain. Accumulated Solana tokens worth $23.86 million (Source: Lookonchain on x.com) Market fluctuations indicate that changes in regulations may also push Solana to greater heights. Speculation about broader institutional adoption in the future is being driven by news of SEC Chairman Gary Gensler stepping down, and talks of a possible Solana ETF. Solana is also benefiting from the general market confidence with Bitcoin price approaching $100,000, creating an uptrend trajectory. Current Performance of Solana Price Positive market outlook has recently fueled Solana price to a new all-time high of $263.70 on November 22, 2024. This has been following the upward trend in which the token increased by 21.87% and 57.61% over the previous…

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Filed under: News - @ November 23, 2024 2:11 am