Multiple large-cap tokens based on Solana surged higher Saturday, and the blockchain’s native SOL token set fresh highs above $275 as the incoming U.S. president backed a new Solana-based TRUMP token, calling it his “official” memecoin.

Coinbase users have experienced significant delays with Solana transactions following the launch of memecoins by former President Donald Trump and his wife Melania.

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.

The boom in Trump-related crypto ventures comes as he promises to usher in a new "golden age" for cryptocurrencies, in stark contrast to the regulatory scrutiny of the industry the Biden administration enforced.

President Trump's memecoin soars as he takes office, dragging other cryptocurrencies up along with it. Bloomberg's Isabelle Lee joins Caroline Hyde and Mike Shepard on "Bloomberg Technology" to discuss.

Just a few days before Donald Trumps Inauguration, he released his own cryptocurrency, the $TRUMP memecoin. Trump announced this over X (formerly known as Twitter) just three days before the inauguration,