Coin Storm: When Trump Creates Waves for Solana!
The heat of the crypto world finally hit Solana, and with a Trump twist! Due to the launch of a new memecoin called “Official Trump” (TRUMP), the price of Solana SOL jumped upwards, moving 15% like it was never to be believed.
Solana Up, Ethereum Down
Solana surged to $254.71, leaving its users beaming, while Ethereum, its long-time nemesis, faced a 7% drop and looked like it was thinking about what to do next. All this was a result of the marketing blast of Trump’s memecoin on his social media accounts. Now, ahead of his swearing-in, Trump isn’t just the President-elect of the United States but an emerging crypto rockstar!
The TRUMP memecoin, in a matter of hours, attracted more than $5 billion in investments to become the biggest memecoin on Solana. Even Trump himself probably wouldn’t have believed his name would cause such a stir in crypto!
Crypto Cast: Trump, Solana, and Gensler!
This development came on the heels of the departure of Gary Gensler, the so-called “crypto villain,” from his position as chairman of the SEC. With Gensler out of the way, the crypto industry is breathing a sigh of relief and gearing up for innovations that Trump may have promised.
Solana: The Star of the Crypto Market
But in 2020, with a faster and more affordable version of Ethereum hitting the stage, it became a harbor for popular memecoins, DeFi projects, and gaming platforms. From dogwifhat to Pudgy Penguins, it would appear that everyone is living their best lives on Solana’s blockchain.
With such phenomenal growth, asset managers are racing to introduce Solana ETFs. If these ETFs are given regulatory clearance, 2025 might just go down as another record year for Solana.
Conclusion
Crypto, Trump, and a Pinch of Humor
With Solana, at the time of writing, standing only 4% away from its all-time high, one thing is certain: in crypto-land, anything can happen. If Trump can shift markets with one simple memecoin, maybe we should hold onto our digital wallets a little tighter!
Source: CNBC
