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Solana price has regained momentum and jumped for five consecutive days and reached its highest point since Dec.6. Solana (SOL) rose to a high of $245 on Saturday, up by 42% from its lowest point this month, bringing its valuation to $117 billion. It has become the fifth-biggest cryptocurrency after Bitcoin, Ethereum, Ripple, and Tether. Source: CoinGecko Here are some top reasons why SOL spiked and why that rally will likely continue.  Solana’s ecosystem growth Solana has jumped because of the ongoing ecosystem growth. Its meme coins have grown and accumulated over $22 billion in market cap. Official Trump (TRUMP), which President-elect Donald Trump unveiled on Jan. 17, has a valuation of $4.4 billion. The other popular meme coins in the ecosystem are Bonk (BONK), Dogwifhat (WIF), and Pudgy Penguins (PENGU).  Solana is also a big player in the non-fungible token industry. According to CryptoSlam, Solana’s NFTs had over $81 million in sales in the last 30 days, making it the third-biggest player after Ethereum and Bitcoin.  Solana’s ecosystem may continue growing because of its faster transaction speeds, lower costs, and the popularity of its Decentralized Exchange networks. Data shows that Solana’s DEX networks handled $32.2 billion in the last seven days, higher than Ethereum’s $9.2 billion. This growth has led to higher network fees, which totaled $820 million in the last 365 days and $77 million this year. Some of these funds flow to Solana stakers; they’re receiving a 7% yield. Solana revenue and fees | Source: TokenTerminal SOL ETF hopes are steady Solana price has also rallied as investors anticipate the potential ETF approval by the Securities and Exchange Commission. A Polymarket poll places those odds at 77%, meaning that the agency under Paul Atkins may be more open to approval. A Solana ETF would likely lead to more demand for the coin from institutional investors. This demand would be higher if the agency was open to allowing these tokens to be staked. In a note this week, JPMorgan anticipated that a Solana ETF would attract between $3 billion and $6 billion in the first year.  You might also like: Solana ETF approval by July 2025? Polymarket odds spike Solana price technicals are supportive SOL price chart | Source: crypto.news The daily chart shows that the SOL token rebounded after forming a double-bottom pattern at $175.42. It has now moved above the pattern’s neckline at $222.95, its highest swing on Jan. 6.  Solana, founded in 2020 by engineer Anatoly Yakovenko, remains above the ascending trendline that connects the lowest swings since January 23 last year. It has remained above the 50-day moving average, while the Relative Strength Index has tilted upwards. Therefore, the Solana price will likely continue rising, a move that will be confirmed if the token rises above the key resistance at $264.15, its highest point in 2024. Solana up until now Yakovenko envisioned a blockchain capable of scaling to millions of transactions per second, providing a solution to what critics said were Ethereum’s slow transaction speeds and high fees. The network is designed to support decentralized applications (dApps) and cryptocurrency transactions. Solana touts faster transaction processing and a higher throughput than many of its competitors. After its mainnet launch in 2020, Solana quickly gained attention for its speed and low-cost transactions, attracting developers and investors. Throughout 2021, the network grew with numerous decentralized finance (DeFi) projects and non-fungible tokens on its platform. Solana, currently backed by big-name venture firms like Andreessen Horowitz, continues to enjoy rapid development via efficient blockchain solutions in the ever-growing crypto space. Read more: Crypto VC funding: Phantom raises $150m, Komainu bags

CPI Data Triggers Bitcoin : $100k Or $90k? The U.S. CPI just rose to 2.9%, and the market is feeling it. Inflation’s creeping up again, and Bitcoin is showing strength, at least for now. As usual, macroeconomic trends are doing their thing. With the rates going up, investors would take less and less risk however for the time being btc is on fire. Bitcoin Smashes Through Resistance Right now, Bitcoin is hanging out between $96,000 and $97,000. Not bad, right? The CPI data dropped, and Bitcoin shot up. It’s like the market couldn’t wait to react. But here’s the big question: will it break $99.5k, or is this where the party slows down?$BTC

Upbit crypto exchange faces suspension in South Korea over alleged KYC violations Cryptocurrencies aggregate market capitalization consolidated at $3.5 trillion on Thursday rising by $152 billion within the last 24 hours. Altcoin markets rose by 9%.

Recent data indicates a decline in core Consumer Price Index (CPI) inflation in both the United States and Pakistan. United States: In December 2024, the U.S. core CPI, which excludes food and energy prices, rose by 0.2% month-over-month, following four consecutive months of 0.3% increases. This brought the annual core inflation rate down to 3.2%, slightly below market expectations of 3.3% and marking the lowest rate in four years. The shelter index, a significant component, increased by 4.6% over the past year, the smallest annual gain since January 2022. Pakistan: Pakistan's annual inflation rate eased to 4.1% in December 2024, the lowest since April 2018, down from 4.9% in November. Urban CPI inflation decreased to 4.4% year-over-year, compared to 5.2% in the previous month, while rural CPI inflation decreased to 3.6% from 4.3%. However, core inflation remains a concern, particularly in rural areas. These trends suggest a cooling in inflationary pressures in both countries, which may influence future monetary policy decisions. $CORE

Recent data indicates a decline in core Consumer Price Index (CPI) inflation in both the United States and Pakistan. United States: In December 2024, the U.S. core CPI, which excludes food and energy prices, rose by 0.2% month-over-month, following four consecutive months of 0.3% increases. This brought the annual core inflation rate down to 3.2%, slightly below market expectations of 3.3% and marking the lowest rate in four years. The shelter index, a significant component, increased by 4.6% over the past year, the smallest annual gain since January 2022. Pakistan: Pakistan's annual inflation rate eased to 4.1% in December 2024, the lowest since April 2018, down from 4.9% in November. Urban CPI inflation decreased to 4.4% year-over-year, compared to 5.2% in the previous month, while rural CPI inflation decreased to 3.6% from 4.3%. However, core inflation remains a concern, particularly in rural areas. These trends suggest a cooling in inflationary pressures in both countries, which may influence future monetary policy decisions.