Trump’s Bid Boosts Solana Price

The article examines how Donald Trump’s potential re-election bid is influencing Solana’s price and market sentiment, including the possible regulatory changes that could benefit the cryptocurrency.

Points

• Trump’s potential re-election boosts Solana’s price.
• Investors believe Trump’s policies could favor crypto regulations.
• Increased trading volume and market sentiment for Solana.
• Potential for Spot Solana ETFs and SEC management changes under Trump.

The recent upswing in Solana’s market value mirrors investors’ beliefs that Vice President Kamala Harris, leading the Democratic party, might struggle to beat Donald Trump in the upcoming elections. After Biden’s withdrawal announcement, Solana’s price rose by approximately 3.5%, and the broader crypto market, including Bitcoin, saw a collective increase of 3.22%.

During Biden’s administration, the crypto sector faced stringent regulations, with major exchanges like Kraken and Coinbase dealing with lawsuits. Blockchain projects like Solana have been under scrutiny for alleged illegal securities sales. In contrast, Trump has asserted that he will end Biden’s “war on crypto” if re-elected, further stirring market optimism.

Markus Thielen, founder of 10x Research, speculates that Trump’s return to office could hasten Gary Gensler’s exit from the US Securities and Exchange Commission （SEC）. Gensler’s anti-crypto stance has been a significant point of contention in the crypto community. Thielen predicts Gensler might resign by early 2025, paving the way for more favorable policies for digital currencies.

SEC management changes could benefit Solana, potentially leading to the approval of Spot Solana exchange-traded funds （ETFs） in the US. Rennick Palley, co-founder of crypto venture fund Stratos, noted that improved market sentiment and the possibility of Solana not being classified as a security in a Trump administration are key factors driving the current price rise.

解説

• Trump’s potential re-election bid is significantly impacting market sentiment, particularly for cryptocurrencies like Solana.
• The expectation of more favorable crypto regulations under Trump boosts investor confidence and market optimism.
• Solana’s recent price surge and increased trading volume reflect positive market sentiment and potential regulatory benefits.
• Changes in SEC management could lead to the approval of Spot Solana ETFs, further enhancing Solana’s market position.
• Investors should consider the broader political and regulatory landscape when evaluating Solana’s future potential.