Solana reached a five-month high of $200 amid a 50% surge over the past month, attracting renewed interest in Layer 1 blockchains. This increase in price coincided with a $1.5 billion rise in open interest within three days, indicating a substantial influx of capital. However, traders exhibit caution as options data shows a spike in implied volatility and a shift towards more bullish sentiment, suggesting a potentially turbulent market ahead. Upcoming macroeconomic events, including Federal Reserve updates and jobless claims, could further impact Solanaā€™s price trajectory. Despite Solana's promising growth, a comparison with Ethereum reveals that while it has surged significantly, Ethereum continues to dominate in security and decentralization. Experts believe that while Ethereum may currently be outperforming, Solana holds the potential for greater long-term upside due to its active development community and increasing on-chain activity. The article concludes that macroeconomic factors will heavily influence the continued growth of Solana and the broader crypto market in the months to come.

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