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

Solana rose above the previous $260 record mark early Thursday afternoon, per data from Coinbase, continuing the asset’s recent hot streak following the U.S. presidential election win of crypto candidate Donald Trump earlier this month.

The jump also came following word that Gary Gensler, the SEC Chairman who led the regulator’s crypto industry crackdown, will resign on January 20, 2025 as Trump comes into office.

SOL is up 11% on the day, 23% over the last week, and 55% on the month. And to really put Solana’s journey in perspective, the token’s one-year surge currently stands at 386%, more than quadrupling in value during that span.

Solana surged to its previous high-price peak back in 2021, drawing substantial hype as a faster and cheaper rival to Ethereum. But the buzz gradually cooled the following year amid a broader crypto bear market and also technical issues, including downtime for the network.

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Author: Andrew Hayward