Solana's SOL token experienced a significant surge in value after the launch of a meme coin associated with Donald Trump. SOL increased by over 16% in 24 hours while Ethereum saw a 7% drop. Trump's announcement of the Official Trump (TRUMP) meme coin on the Solana blockchain caused trading volume to reach $6 billion. Solana, known as a faster and cheaper alternative to Ethereum, has become a hub for meme coins. TRUMP quickly became the largest meme coin on Solana within 12 hours of launch. Various companies have submitted applications to launch exchange-traded funds (ETFs) based on SOL. However, JPMorgan analysts caution that policy changes may take time to materialize despite a pro-crypto sentiment in the White House and Congress. Bitcoin remained in a consolidation phase, but Bitcoin ETFs saw over $1 billion in inflows in two days. JPMorgan does not anticipate significant impact from the launch of more cryptocurrency ETFs on the crypto ecosystem.



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