By Anthony Marcus, correspondent – Eurasia Business News. January 19, 2025. Article no 1384.

Solana (SOL) has reached a record high of $275 then $292, driven by the launch of the official TRUMP memecoin on its blockchain.

The memecoin, announced by Donald Trump, surged to an $8 billion market cap within a day, boosting demand for Solana tokens.

Donald Trump’s meme coin $TRUMP became the 15th largest cryptocurrency in the world, in under 48 hours. The launch occurred on January 18, coinciding with Trump’s inauguration as the 47th president, that will take place on January 20.

The $TRUMP coin was announced on Trump’s social media platforms, Truth Social and X. Following the announcement, the coin’s price skyrocketed from just a few cents to around $30, marking a staggering 12,000% increase in value shortly after its launch.

This development highlights Solana’s growing prominence in the crypto space, supported by its fast transaction speeds and low fees.

Bitcoin price hits $104,942 this morning, ahead of Donald Trump’s inauguration as the 47th US President.

Read also : Start investing in Bitcoin using Coinbase

Optimism surrounds potential crypto-friendly policies, including new SEC leadership under pro-crypto appointees. A Benzinga poll predicts XRP and Bitcoin as top performers during Trump’s early presidency.

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© Copyright 2025 – Eurasia Business News. Article no. 1384.