Solana’s price has surged to a two-week high following news that pro-crypto presidential candidate Donald Trump survived an assassination attempt.
On July 15, Solana (SOL) saw its price rise by about 4.75% in one day, reaching over $154. This marks its highest point in nearly two weeks. Since hitting a recent low of around $121.50, Solana’s price has climbed by 26.85%.
Trump’s Increased Odds Boost Crypto Markets
Donald Trump’s chances of winning the U.S. presidential election in November have risen to 71% as of July 15, up from 62% at the start of the month, according to the prediction platform Polymarket. This shift could lead to more favorable regulations for cryptocurrencies in the U.S., which may benefit coins like Solana, especially those waiting for approvals for their spot exchange-traded fund (ETF) applications.
A potential victory for Trump could signal a move away from the strict regulatory stance of the current Biden administration and create a more supportive environment for digital assets.
Summary Review: Solana’s recent price surge to a two-week high is linked to the news of Donald Trump’s survival of an assassination attempt and his rising odds in the U.S. presidential race. As Trump’s chances of winning increase, the prospect of more crypto-friendly regulations in the U.S. seems likely. This optimism is boosting Solana and other cryptocurrencies, as investors anticipate a shift away from the stringent regulatory environment under the current administration. If Trump’s potential victory leads to favorable changes in crypto regulation, it could positively impact the entire cryptocurrency market.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
