Solana's price surged on Oct. 11, reaching above $144, marking a 5% increase in the last 24 hours, recovering recent losses. The upward trend is in line with a general cryptocurrency market rally and positive developments within the Solana ecosystem. The rise in SOL's price is attributed to increased user engagement, particularly in liquid staking activities, showcasing the network's diversity beyond memecoins. Data from Dune indicates a significant rise in total value locked for liquid staking on Solana, reaching $5.2 billion on Oct. 10. While memecoins still dominate network activity, the surge in on-chain transactions highlights growing adoption and network usage. The article also mentions a rise in liquidations in SOL's derivatives market, with $3.2 million in short positions liquidated on Oct. 11. Readers are advised to conduct their own research before making investment decisions. Read more AI-generated news on: https://app.chaingpt.org/news