Solana and its ecosystem have been the talk of the market over the past 48 hours. This attention has finally broken headlines as Solana hits a new all-time high (ATH) above $268.
Riding on the wave that President Trump’s $TRUMP coin has garnered over the last 48 hours, analysts predicted a ripple effect on SOL. Less than 24 hours later, Solana not only hit an ATH but also recorded billions of dollars in trading volume.
According to Coinmarketcap, Solana experienced a 33% surge over the last seven days leading up to this new high. The increasing participation of traders and investors in the ecosystem has increased its trading volume by over 270% in the last 24 hours. That’s $19 billion traded in SOL and SOL-related activities in the last 24 hours.
As of writing, SOL is experiencing a mild sell resistance and is trading at $252. However, the current market sentiment does not suggest it will hold long.
SOL’s momentum can be attributed to the recent breakout of BTC above $100k, President Trump’s upcoming inauguration, and high market optimism that has flipped TRUMP’s coin into an overnight sensation—which is also hosted on the Solana blockchain.
Solana-Based Altcoins Lead the Market Trend
Coins like Official Trump ($TRUMP), Jupiter (JUP), Raydium (RAY), and Bonk (BONK) seem to be influenced by SOL’s bullish outlook. From as high as a 300% gain to as low as an 8% gain, these altcoins built on Solana are leading the charge in a potentially massive bull run.
Bitcoin has already set the pace by crossing the $100k mark, a feat some crypto critics never thought possible. Memecoins and other altcoins are following suit, building up market confidence in the crypto reign promised by President Trump.
READ MORE: Bitcoin Hit $105k Amid Pre-Trump Market Excitement
