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Solana Value Hits New Report Excessive
The crypto market skilled an enormous shock on Jan. 18 when the ‘official’ Trump (TRUMP) meme coin, endorsed by President-elect Donald Trump, debuted with out prior discover.
Regardless of the extremely aggressive memecoin market, TRUMP shortly reached a jaw-dropping market capitalization of $14.7 billion, in accordance to CoinGecko. TRUMP is at the moment sitting at a value of about $73.27. The Solana token is now the sixteenth most respected coin in the marketplace.
TRUMP was instantly listed on Bitget, Kraken, and KuCoin. The TRUMP token is about to quickly be listed on main crypto exchanges, together with Coinbase and Binance.
Donald Trump’s son, Eric Trump, praised the launch on X, positing:
 
“I’m extraordinarily happy with what we proceed to perform in crypto. $Trump is at the moment the most popular digital meme on earth.”
The meme coin’s excellent debut sparked a rally in Solana’s SOL, pushing it to a contemporary lifetime excessive of $293.31 — eclipsing its earlier all-time excessive set in November. At press time, CoinGecko exhibits SOL up 16.4% on the day at a present value of $291.79. The Ethereum killer is the best-performing among the many high 10 cash over the previous 24 hours. SOL is the fourth-largest crypto with a market cap of $139 billion.
SOL ETFs Subsequent?
In the meantime, some crypto commentators count on a U.S.-listed spot Solana exchange-traded fund (ETF) to be accepted by the tip of this yr, because of the anticipations of a extra pro-crypto White Home after Trump’s inauguration on Jan. 20. As ZyCrypto reported earlier, banking large JPMorgan estimates that SOL-based merchandise may appeal to between $3 billion and $6 billion inside the first six to 12 months if accepted.
That stated, whether or not SOL is classed as an unregistered safety or a commodity by the brand new Securities and Alternate Fee commissioners will likely be pivotal within the ETF approval course of.
