Donald Trump Effect Boosts Solana Network Cryptocurrencies Ahead of His Inauguration
As President-elect Donald Trump’s inauguration approaches on Monday, the cryptocurrency market is experiencing a period of strong optimism. Investors around the world are excited by Trump’s promises to prioritize crypto assets, a move expected to further strengthen the market. This optimism has been particularly beneficial for cryptocurrencies hosted on the Solana network, which have seen significant increases in their prices.
Solana itself has seen a surge of over 40% in the last week alone, trading close to its all-time high of $295. This growth coincides with the $TRUMP memecoin launch by Donald Trump, also on the Solana network, a factor that contributed decisively to the increase in interest and appreciation of the platform.
In addition to Solana, other tokens on the same network also saw significant gains. Jupiter (JUP) saw a 40% increase in just seven days, while Raydium (RAY) saw a 43% increase in the week. Another standout was Fartcoin (FARTCOIN), which surprised the market with a jump of over 150% in the same week.
The Solana DEX, Raydium, was another point of interest , attracting astonishing trading volume and standing out as one of the largest in terms of on-chain activity. The impact of Trump’s impending inauguration and his new memecoin demonstrated the transformative potential of political announcements and prominent figure appearances in strengthening and popularizing cryptocurrencies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin News Today: Bitcoin ETFs See $1.1B Outflow, While New Investments Flow Into XRP and Solana Funds
- U.S. Bitcoin ETFs lost $1.11B in three weeks, with BlackRock's IBIT and Grayscale's BTC leading outflows amid Bitcoin's six-month low at $95,200. - Analysts link redemptions to macroeconomic uncertainty and profit-taking after October's $126,000 rally, while Harvard tripled its IBIT holdings to $442.8M. - XRP and Solana ETFs attracted $255M in new capital, highlighting crypto diversification as Ethereum ETFs also faced $259M in single-day outflows. - Market debates Bitcoin's $94,000 support level amid th
Chainlink's Value Plummets Even as Ecosystem Surges by $26 Trillion
- Chainlink (LINK) plummeted to a 2.5-month low below $14.50, breaking critical support with 118% 24-hour volume spikes signaling institutional selling pressure. - A 360,000-token liquidation cascade and 27% unrealized loss in Chainlink Reserve holdings highlight market fragility despite $26T+ oracle-driven transaction value. - Institutional adoption via Stellar partnerships and tokenized bonds offsets short-term bearishness, yet RSI at 41.72 and 58.79% Bitcoin dominance signal ongoing altcoin weakness. -
Meme Coin Frenzy Sparked by Whale’s $19 Million Wager and Trump’s Support for Crypto
- A crypto whale injected $19.86 million into 22 meme coins in one hour, reflecting heightened speculative activity amid Trump-era crypto-friendly policies. - Trump-linked Bitcoin miner Hut 8 Corp reported 460% revenue growth, leveraging low-cost operations and 4,004 bitcoins ($400M value) to capitalize on market trends. - Canary Capital's MOG ETF filing triggered a 17% market cap surge for the meme token, highlighting institutional interest in community-driven crypto assets. - Analysts warn of regulatory
India’s Blockchain Strategy: National Tokenisation to Upgrade Financial Infrastructure
- India's economic advisor meets Polygon and Anq Finance to discuss tokenisation frameworks and sovereign digital assets for financial modernisation. - Proposed Asset Reserve Certificate (ARC) model uses government securities as collateral, aiming to create secure, sovereign-backed digital settlement units. - Discussions highlight tokenisation benefits like faster settlements and reduced risks, while stressing regulatory alignment with existing financial infrastructure. - Collaboration positions Polygon as
Trending news
MoreCrypto prices
More
