Ethereum’s cryptocurrency keeps losing ground to rival tokens as it struggles to harness tailwinds created by President Donald Trump’s foray into a highly speculative corner of the digital-assets market.

Trump’s memecoin mania has sent Solana to new all-time highs. Donald Trump launched his official memecoin on Solana on Jan. 17. The token recorded a

Such fees are remarkably high for a low-cost blockchain, when transactions typically take fractions of a cent to settle.

Solana’s recent surge was mainly driven by Trump and his wife, Melania, launching two memecoins on the blockchain in the lead-up to his inauguration. Trump’s coin saw frenzied trading, reaching a market cap of $15 billion before a sharp decline.

Solana ETF was gaining momentum after Trump-led memecoin mania shattered records. ETFs have been game-changers for BTC and ETH—could SOL be next? There’s no doubt – Solan a [SOL] is dominating the memecoin ecosystem, with 50% of the top ten memecoins built on its blockchain.

The success of Solana-based tokens and growing institutional interest strengthen discussions around launching a Solana ETF, signaling a new phase of growth.