The cryptocurrency market had a very active time over the weekend. Donald Trump and his wife Melania Trump, who are expected to officially take office today, issued their own tokens. Solana (SOL)-based memecoins TRUMP and MELANIA not only increased their own prices and trading volumes, but also had a positive impact on Solana. At this point, the TRUMP and MELANIA launch has helped Solana generate record fees and revenue, pushing its total valuation past $10 billion for the first time since the FTX crash. Donald Trump’s choice to mine his memecoin on Solana increased interest in Solana and helped SOL surge more than 23% after launch and reach a new ATH. After Trump’s memecoin TRUMP was minted on January 18, the Solana blockchain generated more than $35 million in fees and $14 million in revenue over the weekend, data shows. Moonshot, the memecoin trading platform hosted on Trump's memecoin's website, reported a 12-hour trading volume of nearly $400 million after TRUMP's launch, adding more than 200,000 users to the network in the process. Experts said the launch of a cryptocurrency by a US President indicates a shift towards a more tolerant approach to crypto innovation in the US, while Trump’s preference for Solana also increases the likelihood of the SOL ETF being launched. Polymarket investors have increased the probability of the Solana ETF launching by July 31 from 43% to 58%. *This is not investment advice. Continue Reading: What's Happening in Solana? Trump Chooses SOL, Records Break One After Another: First Time Since FTX Crash!
