Solana Price Jumps 40% in Previous 30 Days. Did the US Presidential Election Trigger a Bull Run

The Solana price has surged by over 40% in the last 30 days, pushing its market cap to $94.13 billion. The SOL price pump stems from the market’s excitement about the possibility of the incoming government approving SOL exchange-traded funds (ETFs).

After the 2024 US election results, the market reacted with a strong bullish excitement that saw the SOL price cross $200. SOL is trading at around over 40% up in the past month. The surge is largely due to Donald Trump’s win over Kamala Harris in the elections.

The Republican candidate was openly pro-crypto during his campaigns, promising a couple of changes in crypto regulations and government Bitcoin stockpiles. Interestingly, the current Solana price is just a bit shy of its 2021 all-time high price of around $260. Some experts believe the altcoin is on its way to $300 as its network activity increases.

Following its recent surge, Solana’s market cap moved up to over $94 billion. The significant increase saw it overthrow Binance Coin (BNB) to become the fourth-largest cryptocurrency – just behind Bitcoin, Ethereum, and Tether. Solana’s trading volume has also crossed $5 billion, suggesting massive network activities.

The bullish trend also connects back to Donald Trump’s win, which triggered a general bull run in the crypto market. For Solana investors, there’s excitement about the likelihood of the new administration approving Solana spot ETFs. If this becomes a reality, more institutional investors will be more interested in Solana, potentially increasing its price.

Despite its recent price jump, Solana is still a significant distance away from its all-time high. Moreover, there are uncertainties about whether Trump, the 47th US president, will fulfill his crypto-related promises.

On top of that, the US Securities and Exchange Commission (SEC) is an independent entity, so a Solana ETF approval isn’t guaranteed. That’s why SOL whales are out for the Lunex, the next big crypto.

The Lunex Network has already raised over $2 million. Still, it’s getting massive whale attraction as the bull run intensifies. That’s because of its revolutionary DeFi cross-chain network that’s built to make asset transfers across different blockchains more scalable, cheap, and efficient.

Besides, Lunex has a robust reward program that incentivizes traders and token holders for their activities. Traders will earn cashback rewards for every transaction on the blockchain, while token holders can lock up their assets for up to 18% APY.

You can find more information about Lunex Network (LNEX) here:

Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article