Solana (SOL), one of the leading cryptocurrencies globally, has reached a new all-time high, driven by unexpected developments that caught the market’s attention.
The surge followed the announcement that U.S. President Donald Trump had launched a memecoin operating on the Solana blockchain.
This unusual move fueled significant excitement among investors, propelling SOL’s price beyond its previous record.
Currently trading at approximately $251 after a slight correction, Solana managed to surpass its previous high of $263. The altcoin experienced a remarkable 20% price increase in the past 24 hours, although its volatility remains notably high.
Despite this impressive rally, Solana holds its position as the fifth-largest cryptocurrency by market capitalization, trailing just behind Tether.
Bitcoin’s recent surge above has reignited enthusiasm across the crypto market, lifting not just the leading cryptocurrency but also signaling a broader altcoin revival.
Ripple Labs is preparing for another large-scale XRP release, set to occur on May 1, when 1 billion tokens—currently valued at around $2.1 billion—will be unlocked from escrow.
ARK Invest has quietly deepened its exposure to Solana by adding a staked SOL investment to two of its tech-focused ETFs, signaling growing confidence in the blockchain’s long-term potential.
The U.S. Securities and Exchange Commission (SEC) is warming up to the idea of expanding the crypto ETF landscape beyond Bitcoin, with 72 crypto-related ETF proposals now awaiting review.