Solana, the fourth largest cryptocurrency by market capitalization, surpassed $200 for the first time since April 1, 2024, following Donald Trump's reelection. The coin experienced a 7.5% increase in price on the day, with a 21.1% jump over the previous week, reaching a peak of $202.55. This surge aligns with a broader uptick in the cryptocurrency market, catalyzed by Trump's victory, which many in the crypto community view as bullish for the sector. The meme coin launchpad, Pump.fun, has seen heightened activity, reflecting a growing frenzy in the meme coin space. Recently, 32,000 tokens were launched in a single day, contributing to a total of 3 million coins launched since its inception. Trump's campaign actively embraced cryptocurrency, proposing to reverse stringent regulations. Market optimism surrounds a potential Solana ETF, which could draw significant investment from traditional markets, mirroring the success of Bitcoin and Ethereum ETFs. This trend suggests a burgeoning acceptance and integration of cryptocurrencies within mainstream finance.

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