Solana’s native SOL crypto has now officially exceeded $200. The cryptocurrency has seen a surge of 7% in just the past 24 hours. After a major correction over the past few days, altcoins have been on the rise.
Just in: Solana $SOL surpasses $200.
— Watcher.Guru (@WatcherGuru) January 15, 2025
In the past month, there have been two significant corrections in the cryptocurrency market. This includes SOL. The market fell in December 2024 after the US inflation rate rose to 2.7%. To combat the rising CPI figures, The Federal Reserve adopted a more hawkish approach. Instead of three interest rate cuts, the central bank has announced just two.
With Donald Trump’s impending inauguration as US President, cryptocurrency prices are starting to rise. Altcoins were a majority at the time of publication, but certain coins which are potential targets for ETFs have been rising in particular. XRP, Solana, and other coins are leading this group, with both having breached the $200 and $3 mark, respectively.
Also Read: Solana (SOL) Prediction To Reach $500, Here’s When
JPMorgan has released a report stating that the launch of a Ripple XRP ETF and a Solana SOL ETF in its first year could bring in approximately $14 billion. This projection was based on similar market penetration rates to those of existing Bitcoin ETFs and Ethereum ETFs that currently account for 3-6% each token’s market capitalization.
Solana SOL currently has a ATH of $263.83. It is currently less than 25 percent below the mark and may break it in the next few months.
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Source: watcher.guru
