Solana Price Surges as New Trump Venture Lifts Market May Solaxy Pump Next?
The launch of Truth.Fi has shaken up the crypto market and Solana (SOL) is capitalizing.
Trumps newest company is planning a massive $250 million crypto investment.
Some traders are now searching for low-cap coins that could benefit from this potential investment.
Solaxy (SOLX) is one of these coins, having raised more than $16 million in its limited-time presale phase.
Solana Rallies After Trumps Truth.Fi Prompts Crypto Market Speculation
Solana is trading around $241, marking a 6% jump in the past 24 hours.
Its now the biggest gainer among the top 10 cryptos by market cap and has almost caught XRP in terms of daily trading volume.
SOL is now at its highest price since last Sunday.
This rebound seems linked to Trump Media & Technology Groups Truth.Fi, a new financial entity thats got everyone hyped.
Truth.Fi is looking to invest up to $250 million into digital assets, with Bitcoin firmly in its crosshairs.
Thats a considerable portion of the firms $700 million war chest.
And everyones speculating on which coins Truth.Fi might invest in alongside Bitcoin, with Solana looking like a prime candidate.
This isnt Trumps first exposure to the crypto market.
Hes been investing in it through World Liberty Financial and has also promised to create a strategic Bitcoin reserve for the U.S.
Market Sentiment Flips Bullish Despite Latest Fed Decision
The broader market is recovering, with Bitcoin and Ethereum back in the green posting 3% and 5% gains, respectively.
But the biggest gainer has been Sui with a 14% rally thats got everyone talking.
Trading volumes are soaring too, jumping 17% from yesterdays figure.
Investor sentiment seems to be shifting from cautious to confident, as evidenced by the Crypto Fear & Greed Index returning to 70 firmly in Greed territory.
All of this is despite the Fed keeping interest rates steady at yesterdays meeting.
Usually, that kind of news would lead to a sell-off, but the market seems calm about it suggesting expectations were already priced in.
Crypto analyst Rananjay Singh is calling it: The bull run is taking shape again.
And he might be onto something, given the climbing trading volumes and positive price action across the board.
Solana looks primed to capitalize, with the next key resistance level around $258.
If SOL can breach that level, theres a potential path back to all-time highs.
Is This New Layer-2 Project About to Pump? Solaxy Passes $16M in Presale & Receives Influencer Endorsement
All of the buzz around Solana (and crypto in general) is putting the spotlight on Solaxy, a new Layer-2 project in presale.
With over $16 million raised already, Solaxy is positioning itself as the solution to Solanas scalability issues.
Its precisely the kind of infrastructure that could catch the eye of big players like Truth.Fi.
Whats interesting about Solaxy is its cross-chain approach.
Solana has always been one of the fastest chains, but Solaxys ability to bridge with Ethereum opens up a world of possibilities for traders and developers.
Solaxy promises to easily handle high-volume trading an interesting pitch as more institutions look to get into crypto.
And theres more since Solaxy also has a staking protocol built in.
Currently, annual yields are estimated at 243%, encouraging investors to lock up more than 4.7 billion SOLX.
The developers have a clear roadmap for after the presale, beginning with a DEX listing (and a potential CEX listing).
Some popular influencers are already optimistic about these listings.
ClayBro, known for his in-depth crypto analysis, believes that once Solaxy goes live, it could take over the meme coin space.
He believes its mix of utility and meme energy could set it apart from all of the useless meme coins launched every week.
Overall, things look promising for this new Layer-2 project making it one to watch in early 2025.
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