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Donald Trump’s Victory Ignited This Altcoin: 5X Predictions!

Donald Trump'ın Zaferi Bu Altcoin’i Ateşledi: 5X Tahminleri Var!
Donald Trump'ın Zaferi Bu Altcoin’i Ateşledi: 5X Tahminleri Var!
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With Donald Trump’s victory, expectations for VanEck and 21Shares’ Solana ETF increased. The altcoin price saw strong gains in the top 10, driven by market sentiment and this anticipation. This optimism is fuelled by expectations of a more crypto-friendly regulatory environment under a potential Trump administration. Some analysts even predict that SOL will potentially reverse ETH and reach $ 1,000 in market capitalisation. As a first step towards this, Solana has managed to move ahead of BNB in the altcoin league

Will Trump’s victory open the door for SOL ETF?

As you follow from Kriptokoin.com, Donald Trump wind is blowing in the market. Trump managed to return to the White House for a second term. With the effect of his recent positive statements on cryptocurrencies, expectations for pro-crypto policies are increasing. This has raised the hope that winning the US presidency could soon lead to the approval of a Solana exchange-traded fund (ETF). Daniel Cheung, co-founder of Syncracy Capital, believes the market may be underestimating a potential ‘Republican sweep’. In this context, he claims that this will push the value of SOL ‘much higher than previously predicted’. Cheung says the following for the altcoin in his detailed explanation:

SOL ETF will likely materialise in Q1 2025, putting SOL in a position to convert ETH and even trade at $1,000.

Cheung’s thoughts are supported by other analysts, including Stratos’ Rennick Palley, who previously suggested that Solana could be next in line for an ETF approval.

SOL surpasses BNB in the altcoin league!

With the recent increase, Solana’s market capitalisation has exceeded $ 87 billion. Thus, it became the fourth largest crypto, surpassing Binance Coin (BNB), which was previously ahead of it. SOL is now just behind Bitcoin (BTC), Ethereum (ETH) and stablecoin Tether (USDT). This growth has attracted a lot of attention, especially with the growing demand for Solana among investors. In contrast, BTC and the leading altcoin ETH recorded impressive gains of 8.4 per cent and 6 per cent, respectively.

Altcoin

TVL is increasing on Solana

DeFi Llama’s latest data shows that Solana’s total value in locked (TVL) has surpassed $6.56 billion. It also highlights the significant growth in DeFi activity over the past two months. In addition to this, Solana recorded a large increase in activity on its popular decentralised exchange, Raydium. Thanks to this, it recently surpassed Ethereum in daily network fees. In just 24 hours, Raydium generated over $3 million in fees for Solana. It also collected $2.42 million of that from swaps alone. As of now, the altcoin SOL is trading at $186.68 with a market capitalisation of approximately $87.9 billion. This makes it the fourth largest cryptocurrency.

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Donald Trump’s Victory Ignited This Altcoin: 5X Predictions!
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