Cryptocurrency markets had a very active time over the weekend. Donald Trump and first lady Melania Trump, who are expected to be officially sworn in today, have issued their own tokens.
Solana (SOL ($265.38)) based meme coins TRUMP and MELANIA not only increased their respective prices and trading volumes, but also had a positive impact on Solana.
To date, with the launch of TRUMP and MELANIA, Solana has generated record fees and revenue, with a total valuation exceeding $10 billion for the first time since the FTX ($0.00) crash.
Donald Trump’s choice to mine meme coins on Solana sparked interest in Solana, and SOL soared more than 23% after its launch, reaching a new ATH.
According to data, since President Trump’s meme coin TRUMP was minted on January 18th, the Solana blockchain generated over $35 million in fees and over $14 million in revenue over the weekend.
Moonshot, the meme coin trading platform hosted on President Trump’s Meme Coin website, has reached nearly $400 million in trading volume in the 12 hours since TRUMP’s launch, adding more than 200,000 users to its network in the process. User reported added.
Experts say the launch of a cryptocurrency by a US president signals a shift towards a more tolerant approach to crypto innovation in the US, while President Trump’s preference for Solana also raises the possibility of a SOL ETF launch He said that he would increase the
Polymarket investors raised the probability that the Solana ETF will be launched by July 31st from 43% to 58%.
*This is not investment advice.
Read more: What’s going on with Solana? Trump chooses SOL, records are being broken one after another: First since the FTX crash!
