Cryptocurrencies Price Prediction: Solana, Bitcoin & Crypto – European Wrap 20 January

FXStreet Team FXStreet

Solana eyes $300 milestone as DEX volume hits $27 billion, boosted by meme coins TRUMP and MELANIA

Solana (SOL) price trades in the green around $263 on Monday after hitting a new all-time high of $295.83 the previous day. Artemis data shows that SOL’s Dex trading volume reached a new all-time high of $27 billion, boosted by meme coins TRUMP and MELANIA.

The technical outlook and on-chain metrics hint at a continuation of the rally as SOL’s Total Value Locked (TVL) and fees generated reach record levels.

Bitcoin and Solana reach new heights

The cryptocurrency market witnessed a significant surge in volatility, reaching an all-time high of $3.72 trillion in total capitalisation on Monday morning. This growth was driven by the successful launch of meme-coins associated with Trump and his wife Melania, whose substantial capitalisation growth positively impacted the entire market.

Trump-backed crypto project sees token surge amid Meme coin hype

World Liberty Financial, backed by Donald Trump, sees a surge in token sales and adds 5% more supply amid excitement over new Trump family meme coins.

World Liberty Financial (WLF), a decentralized finance project linked to Donald Trump, recently reported a surge in token sales. This comes as the company sold 20% of its token supply and announced it would release an additional 5% to meet overwhelming demand. Tokens are currently priced at $0.05.

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XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.

Cardano struggles to extend gains as retail interest wanes despite Midnight's NIGHT token launch

Cardano ticks higher after a bearish weekend, struggling to extend an upcycle within a descending wedge pattern. On-chain data shows an increase in trading volume and user activity after the Midnight side chain token launch.

Crypto Today: Bitcoin, Ethereum recover as XRP remains supported by ETF inflows

Bitcoin is trending up toward the pivotal $90,000 level at the time of writing on Monday, which marks four consecutive days of gains. Altcoins, including Ethereum and Ripple, are also rebounding above key short-term support levels.

Bitcoin nears $90,000 as recovery hopes clash with institutional outflows

Bitcoin is approaching the $90,000 resistance level at the time of writing on Monday, raising hopes of a short-term recovery. However, the bullish recovery is being challenged by weakening institutional demand, as evidenced by outflows from Spot ETFs.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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