The cryptocurrency market is experiencing record-breaking growth following Donald Trump's confirmation as the 47th President of the United States. Bitcoin is nearing $90,000, but altcoins like Solana are performing even better, with a return of over 36% in the last week. Solana, the fourth largest token with a market cap of over $102.5 billion, has surpassed $200 in price and is expected to see further increases.

The positive market sentiment is benefiting Solana's prices, but other factors are also playing a role. Solana, launched in 2020, operates on a proof-of-stake protocol and is known for its efficiency in hosting decentralized applications. It has been referred to as an "Ethereum killer."

Solana's recent rally is also attributed to Trump's endorsement of cryptocurrencies and the anticipation of deregulation in the crypto industry over the next four years. The possible listing of a spot Solana exchange-traded fund (ETF) on US exchanges is another encouraging factor. Although the SEC has not yet taken action on the listing, a crypto-friendly SEC chief appointed by Trump may approve it.

Overall, Solana's growth and potential are driven by market sentiment, its efficient blockchain technology, Trump's endorsement, and the possibility of a Solana ETF listing in the US.



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