The market price of Solana has surpassed $220, gaining over 36 percent in the last seven days.
The token could see more upside due to anticipation around the approval of spot Solana ETFs.
Logo of Solana
The cryptocurrency market is breaking records following Donald Trump's confirmation as the 47th President of the United States. Although the main focus remains on Bitcoin, which is approaching $90,000, other altcoins are performing even better. Solana, for example, has outperformed Bitcoin, delivering a return of over 36 per cent in the last week.
Solana is the fourth largest token, with over $102.5 billion in market cap. With the recent rally, its price has surged past $200 and is indicating further potential increases.
There is no doubt that Solana’s prices are benefiting from the current positive market sentiment. However, other factors are also at play.
Solana price rally in last 7 days; Source: CoinMarketCap
The “Ethereum Killer”
Launched in 2020, Solana operates on a proof-of-stake protocol, predating Ethereum’s switch from proof-of-work. The Solana blockchain is designed to host decentralised applications and has gained significant attention. Due to its efficiency, it has sometimes been called an “Ethereum killer.”
Although Solana is only a quarter of the size of Ethereum, the only cryptocurrency between these two in size is Tether, a stablecoin. Thus, Solana is one of the most influential cryptocurrencies in the market.
One reason behind the latest crypto rally is Donald Trump’s endorsement of cryptocurrencies. President-elect Trump attended multiple Bitcoin conferences during his campaign and announced he would become the first “Bitcoin President.”
With Trump's endorsement, the crypto industry anticipates deregulation over the next four years. The Securities and Exchange Commission’s Chair, Gary Gensler, who engaged in several high-profile conflicts with crypto companies, is also expected to be replaced soon.
Solana applications just flipped Ethereum applications in total revenue generated.
Total application revenue is one the strongest indicators of value creation in an ecosystem, and Solana is now in the lead. pic.twitter.com/DEQScQNSH1
One of the most encouraging factors for Solana is the possible listing of a spot Solana exchange-traded fund (ETF) on US exchanges. Last July, Cboe officially requested the SEC to permit the listing of Solana ETFs by two issuers, VanEck and 21Shares, who also submitted S-1 forms with the regulator.
Although the US regulator has not yet taken action on the spot Solana ETF, a Trump-appointed, crypto-friendly SEC chief replacing Gensler may approve the instrument.
Notably, the SEC approved the listing and trading of spot Bitcoin ETFs on US exchanges last January, followed by the approval of Ether ETFs. While such ETFs are already traded on the stock exchanges of several other countries, the US listing, due to the size of the market, provided a significant boost.
The cryptocurrency market is breaking records following Donald Trump's confirmation as the 47th President of the United States. Although the main focus remains on Bitcoin, which is approaching $90,000, other altcoins are performing even better. Solana, for example, has outperformed Bitcoin, delivering a return of over 36 per cent in the last week.
Solana is the fourth largest token, with over $102.5 billion in market cap. With the recent rally, its price has surged past $200 and is indicating further potential increases.
There is no doubt that Solana’s prices are benefiting from the current positive market sentiment. However, other factors are also at play.
Solana price rally in last 7 days; Source: CoinMarketCap
The “Ethereum Killer”
Launched in 2020, Solana operates on a proof-of-stake protocol, predating Ethereum’s switch from proof-of-work. The Solana blockchain is designed to host decentralised applications and has gained significant attention. Due to its efficiency, it has sometimes been called an “Ethereum killer.”
Although Solana is only a quarter of the size of Ethereum, the only cryptocurrency between these two in size is Tether, a stablecoin. Thus, Solana is one of the most influential cryptocurrencies in the market.
One reason behind the latest crypto rally is Donald Trump’s endorsement of cryptocurrencies. President-elect Trump attended multiple Bitcoin conferences during his campaign and announced he would become the first “Bitcoin President.”
With Trump's endorsement, the crypto industry anticipates deregulation over the next four years. The Securities and Exchange Commission’s Chair, Gary Gensler, who engaged in several high-profile conflicts with crypto companies, is also expected to be replaced soon.
Solana applications just flipped Ethereum applications in total revenue generated.
Total application revenue is one the strongest indicators of value creation in an ecosystem, and Solana is now in the lead. pic.twitter.com/DEQScQNSH1
One of the most encouraging factors for Solana is the possible listing of a spot Solana exchange-traded fund (ETF) on US exchanges. Last July, Cboe officially requested the SEC to permit the listing of Solana ETFs by two issuers, VanEck and 21Shares, who also submitted S-1 forms with the regulator.
Although the US regulator has not yet taken action on the spot Solana ETF, a Trump-appointed, crypto-friendly SEC chief replacing Gensler may approve the instrument.
Notably, the SEC approved the listing and trading of spot Bitcoin ETFs on US exchanges last January, followed by the approval of Ether ETFs. While such ETFs are already traded on the stock exchanges of several other countries, the US listing, due to the size of the market, provided a significant boost.
Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well.
His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ quarterly industry report.
Area of coverage:
1. CFD broker-related news
2. Industry-related Regulatory updates and developments
3. New retail trading trends
4. Prop trading industry updates
5. Executive interviews
Education:
Bachelor of Technology - National Institute of Technology, Agartala (India)
Virtu Financial Ireland Gets MiCA Approval and CASP License for EU Crypto Services
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This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
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-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
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Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
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-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
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This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
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-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
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-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
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-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
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-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
