SOL/USDT appears to be driven by a combination of factors, including a frenzy around Solana-based meme coins (potentially linked to the Meteora lawsuit), a notable shift of institutional money from Ethereum to Solana, strong on-chain activity metrics, positive technical signals, and a generally improving sentiment in the broader cryptocurrency market.

Solana's network boasts over 220 million active addresses, significantly more than Ethereum's 80 million. These metrics point to increasing adoption and user engagement within the Solana ecosystem.

Here's an image depicting a SOL/USDT price chart analysis, highlighting a bullish trend and key technical indicators:

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