Solana sets all-time high of $263

SOL has climbed more than 2,000% in the past two years

article-image

Dennis G Zill/Shutterstock and Adobe modified by Blockworks

share

SOL reached a new all-time high of $263 more than three years after it last peaked, according to data from CoinGecko.

Solana’s native token price fell dramatically amid the FTX exchange’s unwinding, briefly trading in the single digits in late 2022. SOL then endured a sluggish 2023, as the SEC made the argument that SOL was a security, creating regulatory fears around the asset. But after a year of explosive growth, a resurgent Solana has climbed all the way back to become one of only a few major cryptoassets to set a price record this market cycle.

Two years ago today, SOL was changing hands for a little under $12. The asset has appreciated by more than 2,000% since then. 

In recent weeks, user demand to include transactions in Solana blocks has skyrocketed amid explosive growth in the memecoin trading sector. Solana memecoins attached to AI agent projects began the uptick, and Donald Trump’s presidential election victory turbocharged it. 

Moonpay, a popular fiat to crypto on-ramp, said it saw an all-time record for Solana transactions on the platform Tuesday.

Solana’s “real economic value” metric — which largely comprises extra money traders will pay to get transactions processed faster — totaled a record of over $100 million-worth last week, as measured by Blockworks Research.

Source: Blockworks Research

So-called REV can be thought of as a proxy for Solana blockspace demand, and the metric was under $10 million weekly just two months ago.

Based on the past few days, Solana’s REV could approach $200 million this week.

Further fueling the recent rise was speculation on Thursday that the chances of a SOL ETF being approved by the SEC under a Trump administration are higher than previously thought.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template.png

Research

The march toward an interoperable and onchain-by-default internet depends on reliable messaging and value transfer across heterogeneous domains. Crosschain protocols now process >$1.3T in combined annual transfer volume and secure tens of millions of user interactions, yet no single design dominates.

article-image

The goal, per Santiago Santos, is to make crypto a relatable piece of tech for people who may not even understand it

article-image

Stripe stablecoin unit aims to operate under a federal charter enabling regulated stablecoin issuance and custody services

by Blockworks /
article-image

Will TradFi make crypto better or create more problems than it solves?

article-image

Subtle decisions by risk curators saved Aave from significant turmoil

article-image

The new Rootstock Institutional unit aims to connect professional investors to Bitcoin-native yield and liquidity strategies anchored in BTC’s security layer

by Blockworks /
article-image

DOJ files record civil forfeiture against more than 127,000 BTC linked to scam activity

by Blockworks /