Solana (SOL) has, for the first time, exceeded a market capitalization of $100 billion, reaching $101.09 billion on November 7. The cryptocurrency’s price climbed to $214.06, up by 8.36% over the previous 24 hours.

The overall crypto market cap also shows growth, rising by 6.37% to $2.75 trillion after Donald Trump was announced as the winner of the U.S. presidential election, and the Federal Reserve lowered its interest rate by 25 basis points. Bitcoin hit a new high, surpassing $80,000, while Ethereum rose above $3,200.

Solana’s growth is driven by its popularity in the meme coin sector. Decentralized exchanges on the platform, such as Pump.fun, reported revenue of $30.5 million in October, while Raydium reached a trading volume of $30 billion.

User activity on the platform has also surged, with the number of unique addresses growing by 42% since September, exceeding 100 million—a remarkable increase from 509,000 active addresses at the beginning of the year.