It appears that a fresh standout has emerged in the world of cryptocurrencies, significantly propelling the native coin of its underlying blockchain to an unprecedented record high.
To put it simply, the recent introduction of the OFFICIAL TRUMP meme coin has sparked an enormous surge in SOL‘s price, making it the biggest winner among the top 10 altcoins. For a short while, SOL reached $270, setting a new high point, as reported by CoinMarketCap and most trading platforms.
Earlier today, it was announced that a meme coin backed by President-elect Donald Trump is making headlines as the latest significant development within the cryptocurrency sector, according to CryptoPotato’s report.
Due to his widespread influence in both cryptocurrency and global financial markets, the token (TRUMP) has attracted immense interest. Currently, its market value soars at approximately $6 billion, ranking it as the 33rd largest digital asset in terms of market capitalization.
As a crypto investor, I’ve noticed that the surging interest in an asset built on the Solana blockchain, with trading volumes exceeding $11 billion within the last day, has also affected the value of its native token.
In an environment where the majority of alternative cryptocurrencies along with Bitcoin are experiencing daily drops, Solana (SOL) has surged by 18% over the past 24 hours and is currently trading at approximately $255. Notably, it momentarily peaked at $270 on platforms like Coinbase and other exchanges, reaching a fresh record high by exceeding its previous peak of $265 set in November.
The market value of SOL has significantly increased, placing it at over $120 billion, making it the fifth-largest digital currency. This growth has propelled it past BNB‘s market cap of $102 billion.
Beyond the hype surrounding the Trump-themed meme coin, Solana’s (SOL) price has also been positively influenced by other significant advancements in the U.S. context.
Based on the latest news, it appears that the newly elected president intends to bolster the domestic cryptocurrency environment, encompassing American initiatives such as Ripple and Solana.
As a researcher studying Exchange Traded Funds (ETFs), I’ve noticed a striking growth in the potential of a SOL ETF following Donald Trump’s re-election and subsequent inauguration. This surge can be attributed, in part, to Trump’s increasingly favorable stance towards cryptocurrencies, which has undoubtedly played a significant role in this upward trend.
Read More
- INJ PREDICTION. INJ cryptocurrency
- SPELL PREDICTION. SPELL cryptocurrency
- How To Travel Between Maps In Kingdom Come: Deliverance 2
- LDO PREDICTION. LDO cryptocurrency
- The Hilarious Truth Behind FIFA’s ‘Fake’ Pack Luck: Zwe’s Epic Journey
- How to Craft Reforged Radzig Kobyla’s Sword in Kingdom Come: Deliverance 2
- How to find the Medicine Book and cure Thomas in Kingdom Come: Deliverance 2
- Destiny 2: Countdown to Episode Heresy’s End & Community Reactions
- Deep Rock Galactic: Painful Missions That Will Test Your Skills
- When will Sonic the Hedgehog 3 be on Paramount Plus?
2025-01-18 22:02