SOL has also risen quite a bit recently,
Let’s briefly analyze the reasons for the rise in SOL prices,
I have summarized the following three points:
1. U.S. Interest Rate Cut: On November 7, 2024, the Federal Reserve cut interest rates by 25 basis points, which is in line with my expectations. Global funds have poured into risk assets, making Bitcoin and SOL very sought after.
2. Trump Returning to the White House: Technology and crypto assets can be considered his favorites, as he stated during his campaign. This has led to an overwhelmingly optimistic outlook in the crypto market, with the market capitalization soaring directly from $1.1 trillion to $1.8 trillion in 2024, and mainstream assets like Bitcoin and SOL attracting immense investment.
3. SOL's Technical Strength: There are over 2,000 projects running in the ecosystem, including DeFi, NFTs, and Web3. The transaction speed is incredibly fast, with 65,000 transactions per second and extremely low fees, making it popular among developers and users alike.
In summary, the three main factors driving the surge in SOL prices are interest rate cuts, Trump's return, and technological strength.
