Donald Trump

Solana

Bitcoin

<ul>
 <li><strong>Solana’s native token (SOL) reached an all-time high of $260.25 following significant whale accumulation.</strong></li>
 <li><strong>Bitcoin surged past $99,000, fueled by favorable crypto market expectations under pro-crypto President-elect Donald Trump</strong></li>
</ul>
<p>Solana has once again taken center stage as the digital asset best known for its speed and scalability, which surpassed its all-time high of 259.99 on Friday. The Solana token witnessed a significant rally following a significant accumulation of whales.</p>
<p>At the time of writing, SOL is <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">trading</a> at <span class="sc-65e7f566-0 WXGwg base-text" data-test="text-cdp-price-display">$260.25</span> after rallying 7.50% in the past 24 hours. Additionally, the digital asset has also surged 23.77% and 57.72% in the past week and month respectively. This rally has pushed its market cap to $123.46B.</p>
<h3 id="strong-solana-reaches-all-time-high-fueled-by-whale-accumulation-strong"><strong>Solana Reaches All-Time High Fueled by Whale Accumulation</strong></h3>
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 Data from Lookochain has revealed that whales have continued <a href="https://www.ethnews.com/solanas-surge-analyzing-the-record-318-billion-transfer-volume-and-its-market-impact/" target="_blank" rel="noopener noreferrer nofollow">accumulating</a> Solana amidst this bullish spree. This has been instrumental in Solana’s attainment of this new milestone. Digging further, Lookochain highlighted a fresh wallet under the address “Au1VJ…q8hF8” accumulated a whooping 42,443 SOL, worth $11.14 million, from Binance over the past two days.
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 Conversely, Solscan revealed another whale bagging where a whale address under 7L1HBfMH accumulated 100K SOL, worth $23.86 million, and staked it over the last two days. Totally, the whale now accumulates SOL worth $55.58 million.
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 <h3 id="strong-firms-file-for-solana-based-exchange-traded-fund-strong"><strong>Firms File for Solana-Based Exchange-Traded Fund</strong></h3>
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  During this bullish season, ETF issuers have expressed gain interest in offering a Solana based ETF. Recent development reveal that <a href="https://www.ethnews.com/bitwise-files-for-first-solana-etf-amidst-growing-crypto-investment-trends/" target="_blank" rel="noopener noreferrer nofollow">Bitwise</a>, VanEck, 21Shares and Canary Capital have also recently submitted their S-1 registration statements to list a spot Solana ETF in the US.
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 <blockquote>
  <div class="container"><span style="text-align: center">We strongly believe that Solana’s native token, SOL, is eligible for inclusion in an ETF as a commodity. In fact, no court has found that SOL as a token itself is a security – which is consistent with numerous court decisions that we have cited in our filings. A</span><span style="text-align: center"> 21Shares spokesperson told a leading news outlet</span>
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<div>
 Coincidentally or not this filings came after the stunt SEC chair person Gary Gensler revealed that he would be resigning on January, the same day whe President elect and Pro crypto Donald Trump will be sworn in. Notably, Gary Gensler was supposed to serve until 2026.
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 This resignation has eased up on one of Donald Trump’s promises where he reportedly promised to fire Gary Gensler on Day 1 of entering office. Subsequently, market participants hope for a friendlier crypto environment in Donald Trump’s governance.
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<div>
 <h3 id="strong-bitcoin-s-historic-rally-pushes-toward-100-000-strong"><strong>Bitcoin’s Historic Rally Pushes Toward $100,000</strong></h3>
 <p data-sourcepos="15:1-15:21">Yesterday, Bitcoin, the crypto market leader, <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">surpassed</a> the $99,000 mark yesterday after recording a significant rally of 4%. Firstly the token rallied to $98,273.50, according to Coin Metrics. Earlier, it rose as high as $99,046.94.</p>
 <p data-sourcepos="15:1-15:21">This rally comes in hopes that Donald Trump will usher in a favorable crypto market conditions. Notably, this spike was partially triggered by a spike in funding rates and open interest on the futures market during Asia trading. Around the same time, premiums in spot markets fell, according to data from CryptoQuant.</p>
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<p data-sourcepos="15:1-15:21">Additionally, according to Coinglass, Bitcoin’s rally, opened room for short liquidations of more than $100 million in a 24 hour period at one point.</p>
<p data-sourcepos="15:1-15:21">Rob Ginsberg, an analyst at Wolfe Research, said in a Wednesday note;</p>
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 <p data-sourcepos="15:1-15:21">Looking back at previous moves of this magnitude, BTC has historically either gone into a consolidation period, or ignored the overbought condition as investors pile in,</p>
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<p>The post <a href="https://www.ethnews.com/solana-reaches-all-time-high-as-bitcoin-nears-100000-whats-next/" rel="noopener noreferrer nofollow">Solana Reaches All-Time High as Bitcoin Nears $100,000: What’s Next?</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

Solana Reaches All-Time High as Bitcoin Nears $100,000: What’s Next?

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