Solana Breaks Through The $200 Barrier After Rising Nearly 9%

Solana has broken through the $200 threshold for the first time in seven months of trading. The token’s price saw a 8.69% rise as the crypto market rallies after the US election.

According to data from crypto.news, Solana(SOL) is currently trading hands at $203.88. In the past 24-hours of trading, the token has gone up by 8.69%. In the last seven days, Solana has been on a green streak, going up by 22.25%.

Over the past year, the SOL price seen a 370% change. At the time of writing, Solana hold the fourth position in crypto.news rankings by market cap. Solana currently has a market cap of of $95.8 billion. SOL’s token supply stands at $471 million.

Solana is still 23% away from its all-time high price of $260 which occurred in November 2021, but it seems to be riding the wave of the bullish crypto market amidst Trump’s presidential win.

On the day of the US election, the crypto market saw a surge of bullish sentiment after Donald Trump’s electoral win, as well as a group of elected pro-crypto candidates into the House of Representatives.

As previously reported by crypto.news, on election day the global crypto market capitalization saw a 5% rise over the past 24 hours, reaching $2.56 trillion. The daily trading volume almost doubled and is currently hovering at $236 billion.

Bitcoin(BTC) reached an all-time high of $75,011 while Ethereum(ETH) rose by 6.3% and was trading at $2,590. At the time of writing, ETH’s price is already nearing $3,000 after rising by 3.59% in the past 24 hours according to crypto.news data. Meanwhile, Bitcoin is still on its bullish era, trading hands at a record-breaking $76,278.

According to data from Stand With Crypto, there are an estimated 266 pro-crypto candidates who have been elected into the House of Representatives following Trump’s presidential win. Trump has been very vocal about his support for the crypto industry, with his promise to build a Bitcoin reserve and to fire Head of Securities and Exchange Commission Gary Gensler.