{"id":18415,"date":"2024-11-08T10:25:45","date_gmt":"2024-11-08T08:25:45","guid":{"rendered":"https:\/\/forklog.com\/en\/solana-tests-200-mark-following-trumps-victory\/"},"modified":"2024-11-08T10:25:45","modified_gmt":"2024-11-08T08:25:45","slug":"solana-tests-200-mark-following-trumps-victory","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/solana-tests-200-mark-following-trumps-victory\/","title":{"rendered":"Solana Tests $200 Mark Following Trump’s Victory"},"content":{"rendered":"

In the early hours of November 8, Solana’s price reached the $200 mark, a level last seen in April 2024.<\/p>\n

The all-time high near $260 was recorded in November 2021.<\/p>\n

\"1-1282\"
Hourly chart of SOL\/USDT on Binance. Data:\u00a0TradingView<\/a>.<\/figcaption><\/figure>\n

Over the past 24 hours, the asset’s price increased by 6.9%, second only to Cardano (+19.2%) among the top 10 cryptocurrencies.<\/p>\n

\"2-931\"
Data:\u00a0CoinGecko<\/a>.<\/figcaption><\/figure>\n

Presto Research analyst Min Jung told The Block<\/a> that Solana’s success is due to high activity in meme coins, which supports “the broader Solana ecosystem, including decentralized exchanges like Raydium.”<\/p>\n

According to DeFi Llama<\/a>, trading volume on DEX exceeded $30 billion last month.<\/p>\n

The expert also noted an improvement in the blockchain’s overall on-chain metrics.<\/p>\n

In October, the number of monthly active addresses on the Solana network reached a record 123.01 million, a 42% increase compared to September, according to The Block<\/a>.<\/p>\n

\n

“There is an element of hope driving the cryptocurrency’s price up, including the potential approval of an <\/em>ETF<\/em>, although the timeline is still distant. It is more likely the influence of anticipated favorable policies towards digital assets, especially in names like Solana, where there is a strong holder community,”<\/em> the expert noted.<\/p>\n<\/blockquote>\n

Previously, Syncracy Capital co-founder Daniel Chung predicted the launch of a SOL-ETF in the first quarter of 2025 following Donald Trump’s victory in the U.S. presidential election.<\/p>\n

Technical analyst Peter Brandt has seen potential for Solana to grow 27-fold to $4500.<\/p>\n","protected":false},"excerpt":{"rendered":"

In the early hours of November 8, Solana’s price reached the $200 mark, a level last seen in April 2024. The all-time high near $260 was recorded in November 2021. Hourly chart of SOL\/USDT on Binance. Data:\u00a0TradingView. Over the past 24 hours, the asset’s price increased by 6.9%, second only to Cardano (+19.2%) among the […]<\/p>\n","protected":false},"author":1,"featured_media":18414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1145,1268,1159],"class_list":["post-18415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-market-analysis","tag-on-chain-analysis","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"6","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18415"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18415\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18414"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}