Editor's Note: This article was originally published on January 18th. Within just 24 hours of its launch, TRUMP successfully listed on major exchanges such as OKX, Coinbase, and Binance, setting a record for the shortest time to list a token spot. At the same time, SOL once again reached a new all-time high in this cycle last night. This article analyzes Solana's potential post-Trump and is for reference only.

This morning, Trump personally appeared at Solana and released a meme coin named after himself, TRUMP. At the time of writing, the market cap of TRUMP has exceeded 20 billion US dollars. Binance listed the TRUMP contract this afternoon, setting a record for the shortest time to list a token contract.

It's this one image that, within 4 hours, created a new record in the history of crypto. Never before has a new coin had a staggering $20 billion value within just 4 hours on-chain.

At a time when cryptocurrency memes related to the election concept had long died down, Trump used his official account and historical data to announce his arrival in the crypto world, and the market responded with real enthusiasm, as evidenced by a $40 billion trading volume.

This is an absolute boon for the cryptocurrency industry. The $10 billion market cap crypto meme has opened up the market's ceiling and expanded the imagination of funds. At this point, it no longer matters what this coin can actually do. Everyone just needs to know that when the U.S. president personally launches a coin, the significance of this action for the crypto industry far exceeds imagination.

Next Monday, Trump will officially begin his second term as the U.S. president. After a costly election season, the cryptocurrency industry has finally welcomed its own president.

Thanks to Trump's commitment to establish a strategic Bitcoin reserve, his victory provided a significant boost to Bitcoin. Meanwhile, Ethereum ecosystem infrastructure applications led by AAVE also shone brightly in the "Trump market" of December, with the market widely believing that ETH is poised to rise to new heights in the upcoming market.

However, some industry insiders now believe that Trump's presidency may bring even greater benefits to networks like Solana, which focus more on real-world applications rather than reserve assets.

In the week before Trump's inauguration, SOL's price rose by 19%. On January 16th, according to @tier10k citing the New York Post, news that Trump was "open to the idea" of U.S.-issued digital currencies (such as Solana, USD Coin, and Ripple) as strategic reserves further boosted SOL's price by 5%.

Trump's Crypto New Policy Bullish for SOL

On January 15, Reuters reported that, according to three sources familiar with the matter, senior Republican SEC officials plan to start a comprehensive reform of the agency's cryptocurrency policy as early as next week, after Trump takes office.

Related reading: "White House to Start Crypto-Friendly Era: Counting Down the 'CryptoSquad' Under Trump's Leadership"

Two of the sources stated that Commissioners Hester Peirce and Mark Uyeda are considering measures such as initiating a process to develop guidance or rules to clarify under what circumstances the agency would consider a cryptocurrency a security, and reviewing some cryptocurrency enforcement cases that are currently in court.

In 2023, the SEC sued Coinbase and Binance, alleging that these cryptocurrency exchanges illegally acted as unregistered brokers by facilitating the trading of various tokens, including SOL.

In defining SOL as a security, the SEC led by Gary Gensler stated that U.S. companies would be in violation of the law if they traded the token because the SEC had only issued two special-purpose broker licenses, neither of which offer trading of SOL.

Although the SEC has dropped the charges against Solana in the lawsuit against Binance, if enforcement actions against Coinbase are also paused, a major obstacle adopted by this network would be removed.

Possibility of SOL ETF?

With the issue of Solana as an unregistered security gradually calming down, some have begun to look forward to the prospect of a SOL ETF, which could see a regulated Solana investment vehicle listed on a public securities exchange. Predictions on Polymarket suggest a 75% likelihood of approval for SOL ETF by 2025, but Leah Wald, CEO of Sol Strategies, stated in a recent interview with reporters that she does not believe a Solana ETF will be approved in the near term.

During President Trump's term and in a more friendly regulatory environment, Solana may also gain a more intangible benefit that is harder to quantify.

Titus Capilnean, Vice President of Market Expansion at Civic Technologies, stated that while the regulatory status of SOL is still unclear, developers are mainly focused on promoting meme coin transactions, which is "actually a form of protest against unclear SEC regulation."

Capilnean pointed out that with Trump's presidency, the crypto industry "may shift from mere speculation to utility-driven growth, and developers will be more confident in launching more complex applications without worrying about regulatory resistance."

Over the past year, many American Solana developers have indicated that if regulation becomes clear, the opportunity for their products to find market fit will greatly increase. Now is the moment for them to prove this.

This morning's TRUMP may be proof of that. "Madness" has always been Trump's label, personally entering the field of issuing coins, choosing a chain like Solana with a broad grassroots base. With precedents like GME, the power of retail investors is worth imagining.

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