FacebookTwitterLinkedInTelegramCopy LinkEmail
AltcoinsOthers

Solana Surges to Record High, Fueled by TRUMP Token Mania

Solana Surges to Record High, Fueled by TRUMP Token Mania

Solana’s native token has reached a new all-time high, climbing to $268.75 before stabilizing at $254, fueled by the launch of Donald Trump’s memecoin, TRUMP.

Announced on Trump’s social media platforms, the token debuted with 200 million coins, aiming for a total supply of 1 billion within three years. Its valuation quickly soared, currently sitting at $27.84 with a fully diluted market cap of $28 billion.

TRUMP’s release has energized the Solana ecosystem, propelling platforms like Moonshot into the spotlight. The memecoin launchpad processed $400 million in just 12 hours, earning a spot in the top 10 finance apps on Apple’s U.S. App Store. Decentralized exchange Jupiter and liquidity protocol Meteora also saw significant activity, with Jupiter’s token gaining 33% and Raydium rising over 20%.


READ MORE: Vitalik Buterin Announces Major Reforms for Ethereum Foundation Leadership


Amid this momentum, Solana’s standing as the fifth-largest cryptocurrency is solidified, boasting a $125 billion market cap and $23.2 billion in daily trading volume. However, speculation surrounds the potential approval of a spot Solana ETF, with experts noting that its classification as a security or commodity by the SEC could influence the process significantly.

As the crypto world watches, Solana’s rapid growth and its ties to the TRUMP memecoin underscore its rising prominence—but also highlight the regulatory challenges that could shape its future.

Author
Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

Learn more about crypto and blockchain technology.

Glossary