Solana (SOL) has recorded impressive performance lately as prices soared to all-time highs above $290 yesterday
Further, the blockchain dominates the meme crypto space, housing half of the top ten meme coins.
The latest TRUMP and MELANIA meme coins’ launch on Solana has elevated the ecosystem’s appeal.
Amidst the optimism, attention has switched to a product set to fuel SOL’s mainstream acceptance – a Solana exchange-traded fund.
Polymarket data shows the probability of Solana ETF approval in 2025 has increased as SOL-based memes dominate inauguration optimism.
Trumps shake the meme coin space
The meme crypto space grabbed the attention as Donald Trump’s team ventured into the crypto world a day before the inauguration.
My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to gettrumpmemes.com — Have Fun!
TRUMP (Official Trump) skyrocketed to record highs, joining the top Solana meme with over $14 billion in market cap.
In an unanticipated move, Melania Trump joined the bandwagon, launching the MELANIA meme token hours before the inauguration.
Melania Trump’s coin ranks as the 6th largest meme asset on the Solana blockchain, with over $7 billion market capitalization.
MELANIA and TRUMP are unlike usual meme assets as their launch represents the Trump administration’s entry into the cryptocurrency industry.
Notably, the new meme assets debuted on Solana, and their effects were immediate.
SOL price soared to new ATHs above $295, with a $23.7 billion daily DEX volume.
The market cap of Solana meme tokens increased by 13% within the past 24 hours to $26.8 billion.
The $54 billion daily trading volume underscores the massive trader interest in SOL-based meme cryptos.
Solana is an attractive blockchain due to its top-notch technology.
Besides friendly costs, the 4,392 transactions per second remain vital in timing the markets while dealing with the wild meme assets’ volatility.
Ethereum handles between 12 and 15 transactions per second (TPS).
Meanwhile, these developments have renewed debates about a SOL ETF.
Does Trump’s recognition signal an upcoming Solana exchange-traded fund after BTC and ETH?
Experts predict a SOL ETF in 2025, according to Polymarket.
Leading assets managers, including Canary Capital, 21Shares, VanEck, Bitwise, and Grayscale, have applied for Solana exchange-traded funds.
Meanwhile, the SEC’s stance on Solana will determine the outcome.
Enthusiasts anticipate a friendlier approach under the United States’ new pro-crypto government.
The US president-elect remained optimistic about crypto during the campaigns and cemented his support for the industry with the latest meme assets.
Bloomberg’s Eric Balchunas predicted multiple altcoin ETFs (including Solana, Hedera, and Litecoin) under SEC’s new leadership.
We expect a wave of cryptocurrency ETFs next year, albeit not all at once. First out is likely the btc + eth combo ETFs, then prob Litecoin (bc its fork of btc = commodity), then HBAR (bc not labeled security) and then XRP/Solana (which have been labeled securities in pending…
A Solana ETF will open the altcoin for institutional recognition, which could mean robust growth in the upcoming times.
A potential ETF and Solana strategic reserve amidst the anticipated 2025 bull run might propel SOL prices to forecasted levels above $1000.
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