The "official" memecoin of incoming U.S. President Donald Trump has boosted interest in Solana (SOL), leading to a surge in both its price and trading volume, which in turn helped the total dollar value locked (TVL) on the network top $10 billion for the first time since the collapse of FTX. Donald Trump’s choice of issuing the memecoin on Solana helped SOL rise more than 23% since its announcement, moving the cryptocurrency’s price to a new all-time high and boosting the dollar value locked on its smart contracts. Data from DeFiLlama shows TVL on Solana is now at $12 billion, a new all-time high. Measured in SOL, the value locked on the network has been steadily growing since the beginning of last year and recently topped 45 million SOL. This level hasn’t been seen since August 2022, ahead of the collapse of FTX, whose co-founder Sam Bankman-Fried was a major Solana proponent. The launch of Donald Trump’s official memecoin, $TRUMP, was co-ordinated by CIC Digital LLC, a Trump-affiliated organization, the BBC reported . Together with Fight Fight Fight LLC, they own 80% of the memecoin’s supply set to be released over the next three years. The memecoin, which has been dominating headlines in the space and is set to be listed on major cryptocurrency exchanges including Binance and Coinbase, is currently the third-largest across all blockchains behind Shiba Inu and Dogecoin in terms of market capitalization. The token was launched by a team including Solana ecosystem protocols Jupiter and Meteora and led to a trading frenzy on the network’s decentralized exchanges, with DeFiLlama showing Raydium surpassed Tether in 24-hour fee generation. Moonshot, the memecoin trading platform featured on the memecoin’s website posted on social media by President-elect Donald Trump, reported a 12-hour trading volume of nearly $400 million after the memecoin launched, adding it onboarded over 200,000 users onto the network in the process. https://x.com/moonshot/status/1880659326395666759 The network choice also helped boost the perceived odds of a spot Solana exchange-traded fund (ETF) being launched in the first half of the year. Polymarket traders went from weighing a 43% chance such a product would be launched by July 31, to 61%. The trading frenzy came during the weekend, when trading volumes are typically muted as many institutional investors and professional traders are less active. This means that speculative activity on the network could well continue during the week. Beyond that, the memecoin’s launch is bringing Solana an influx of new users and presents the network, which has suffered multiple major outages , with an opportunity to showcase its robustness. If it withstands the test, the Solana ecosystem could keep on seeing significant inflows. The introduction of Trump`s token also signals the U.S. government`s change in stance toward the cryptocurrency sector and offers it increased legitimacy, as the President of the world’s largest economy has quite literally launched a Solana-based memecoin. The memecoin’s rollout signals a “change in US fintech policy towards much more permissive innovation,” crypto OG and Shapeshifter founder Erik Voorhees commented .
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Michael Saylor Teases New MicroStrategy Bitcoin Purchase
MicroStrategy, a software intelligence company, is back in the spotlight for its bold Bitcoin (BTC) acquisition strategy. Its chairman Michael Saylor has teased another Bitcoin purchase is on the horizon. With Bitcoin’s value soaring, currently sitting at around $101,490, the company’s holdings are now worth an impressive $47.3 billion. Its calculated investment strategy is paying off, with a 69% return, thanks to its relentless accumulation of Bitcoin over time. MicroStrategy’s ongoing focus on Bitcoin comes as both big institutions and individual investors show increasing interest in the digital asset. MicroStrategy Massive Bitcoin Hoard Michael Saylor has been very open about the company’s Bitcoin plans. Every week, for 11 weeks in a row, he posted hints about the company’s Bitcoin purchases. On January 19, he shared a Bitcoin chart, signaling that the firm is planning to buy more soon. Just a few days earlier, the company bought 2,530 BTC worth $243 million that pushed its Bitcoin stash to 450,000 BTC valued at a whopping $47.3 billion. The company’s plan is part of its 21/21 initiative, a bold move to raise $42 billion through equity and fixed-income securities to fund Bitcoin purchases. Recently, the company announced the plans to raise another $2 billion through a perpetual preferred stock offering to fuel its Bitcoin buying spree. This strategy underscores a long-term vision where Bitcoin is not just an asset but the foundation of MicroStrategy’s financial future. Saylor’s Push for a U.S. Bitcoin Reserve Michael Saylor, who has signaled his willingness to join America’s new political era, is not alone in his vision for Bitcoin. He has repeatedly suggested that the U.S. should consider adopting Bitcoin as a Strategic Reserve Asset (SRA). In a framework he presented in December 2024, Saylor argued that converting the U.S. Treasury’s gold holdings into Bitcoin would fortify the U.S dollar and neutralize the national debt. His plan even included an ambitious goal to create an $81 trillion Bitcoin strategic reserve. According to Saylor’s framework, such a move could propel Bitcoin markets to a $10 trillion market capitalization. Also, the overall digital asset capital markets could expand to $280 trillion. Above all, it would position the country as the dominant global force in the digital economy. A Call for Bitcoin Reserves The MicroStrategy Chairman’s ideas are not going unnoticed. Industry leaders, including Coinbase CEO Brain Armstrong and asset manager Anthony Pompliano, have joined the conversation. In a recent statement, Pompliano urged the U.S. government to acquire as much Bitcoin as possible, emphasizing the situation’s urgency. He warned that if the U.S. does not act quickly, it could be outpaced by other nations in the race to secure Bitcoin as a reserve asset. With countries like China already taking bold steps to integrate Bitcoin into their economies , the pressure is on the U.S. to act or risk falling behind. The post Michael Saylor Teases New MicroStrategy Bitcoin Purchase appeared first on TheCoinrise.com . CoinDesk