Solana’s native SOL cryptocurrency has officially surpassed $200, riding a 7% surge in the last 24 hours. Following significant correction in the last few days, the altcoin is on the rise.
JUST IN: Solana $SOL surpasses $200.
— Watcher.Guru (@WatcherGuru) January 15, 2025
The cryptocurrency market has faced two substantial corrections over the last month, including SOL. In December 2024, the market dipped following the rise in US inflation figures to 2.7%. The Federal Reserve took a hawkish stance to combat rising CPI numbers. The central bank announced only two interest rate cuts instead of three.
However, with Donald Trump’s looming inauguration as US president, cryptocurrencies are beginning to heat up on the charts. The altcoin market is majority up at press time, and select coins that are targets of potential ETFs are especially rising. XRP and Solana lead this pack, and both breached $200 and $3, respectively.
Also Read: Solana (SOL) Prediction To Reach $500, Here’s When
According to a report from JPMorgan, the launch of a Ripple XRP and Solana SOL ETF could attract approximately $14 billion in inflows in their first year. The projection is based on market penetration rates similar to existing Bitcoin and Ethereum ETFs, which currently represent 3-6% of their respective tokens’ market capitalizations.
Solana SOL’s current ATH is $263.83. The asset is less than 25% below that mark, and could break the record in the coming months.
