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.
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