Solana ($SOL ) has been experiencing remarkable growth recently, reflected in both its market cap and the expansion of its ecosystem. SOL is currently priced at $262.56, up 19.99% from its previous close. During the day, the token reached a high of $262.80 and a low of $216.47.

In 2024, Solana has seen a significant increase in the number of monthly active addresses, jumping from 13.8 million at the start of the year to over 100 million in October, representing a 970% year-over-year growth. This increase in network activity is partly due to the growth of memecoins on its platform, which have attracted a diverse user base.

Additionally, Solana has been making a name for itself in the Brazilian market with the approval of the world’s first exchange-traded fund (ETF) based on spot trading of SOL by the Brazilian Securities and Exchange Commission (CVM). The ETF debuted on the B3 with R$15.5 million in assets under management, consolidating Brazil as one of the most innovative and diversified markets for cryptocurrency ETFs in the world.

Crypto market analysts are optimistic about the future of Solana. Projections suggest that the price of SOL could reach US$700 by the end of 2025, driven by the platform’s growing institutional adoption and technological advances. However, it is important to consider potential challenges, such as market volatility and regulatory uncertainties, that could influence this trajectory.

In summary, Solana continues to consolidate itself as one of the leading blockchains in the market, showing robust growth in its user base and in the value of its token, in addition to expanding its presence in international markets such as Brazil.