Sun 10 Nov 2024 ▪
4
min reading ▪ by
Micaiah A.
Solana, a true rising star, is taking advantage of the pro-crypto currents fueled by the return of Donald Trump. In one week, its value jumped 25%, and the market is not losing sight of bold new highs. At this rate, crypto could soon join the prestigious 100 billion club. Analysts wonder: Will Solana, this Ethereum killer, soon reach this historic milestone, boosted by the growing appetite for crypto ETFs?
Solana towards the $100 billion club
In the blink of an eye, Solana went from outsider to rising star in the world of cryptos, with a clear objective in mind: to achieve a capitalization of 100 billion dollars. Currently valued at 96.8 billion, this “Ethereum killer” is on the verge of joining the restricted circle of assets like Bitcoin, Ethereum and Tether.
A rise in power which does not fail to get observers in the sector talking.
- With a current capitalization of $96.8 billion;
- Total transaction fees exceeding SOL 1.1 million;
- More than 3.1 million tokens issued on the platform;
- A trading volume of $1.9 billion in two weeks.
The figures are impressive, as is the enthusiasm generated by this project. Solana also knew gain a foothold in the portfolios of American institutional investors. So much so that investment giants like VanEck have already filed proposals for Solana ETFs.
« We could even see crypto cross the symbolic mark of 100 billion dollars », Analyzes the CEO of Bitwise, Hunter Horsley, who places Solana among the promising assets of the moment.
The momentum of crypto SOL under the Trump effect
The recent return of Donald Trump seems to have had the effect ofa boost on the Solana coursepropelling this crypto by 17% in just a few hours after the announcement of the US election results. This surge has positioned SOL as fourth largest crypto in terms of capitalizationin front of Binance Coin (BNB).
According to analysts, this bullish wave could continueespecially if Trump achieves a favorable environment for crypto ETFs, which would place SOL in a good position to break new all-time highs.
Several experts, such as Daniel Cheung of Syncracy Capital, speak of excessive growth potential, even banking on an ATH (All Time High) from Solana shortly. With robust DeFi and growing institutional adoption, the SOL price could well cross the $500 mark or even soar beyond, in the case of ETF validation under the new US administration.
Before the elections, Arthur Hayes had bet on Solana rather than Bitcoin, seeing this crypto as the next generation of digital assets.
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Micaiah A.
The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy in this world, against all hope, I will say that I had something to do with it
