Solana’s SOL crossed $200 for the first time since November 2021 as network activity continues to grow rapidly on the back of the meme coin frenzy.
SOL is now 22% away from its lifetime peak of $260 but has already crossed its record market capitalization of $75 billion market capitalization,that various metrics, such as network volumes, active wallets, total value locked , fees, and SOL’s market capitalization, crossed lifetime peaks over the weekend, led by a surge in pre-sale activity.
The network amassed $3.2 million in fees over a 24-hour period, beating a $300,000 record from 2021. Onchain volumes climbed over $3 billion, flipping a November 2022 record of $300 million.However, net inflows to the Solana blockchain have been negative over the past week, suggesting there has not been a significant influx of new money into the ecosystem.SOL was trading at $202 during Asian morning hours, up 10% since Sunday.