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Solana’s SOL Rallies Past $100, Continuing Torrid Month

The Solana blockchain's native token SOL broke $100 Saturday, reclaiming a price level not seen since the eve of Terra's collapse a year and a half ago. At press time SOL was valued at around $102 a coin. It has increased in value more than tenfold in 2023 and is up over 70% in December alone, according to CoinDesk Indices. Saturday's price action capped weeks of frenzied trading that have – at least temporarily – vaulted the Solana blockchain up the leaderboard for on-chain activity. Solana-based decentralized exchanges are nearing Uniswap's multibillion-dollar trading volumes for the first time, according to DefiLlama. Much of that energy is being driven by rampant speculation.

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