Donald Trump’s inauguration as the 47th US president has officially started, and massive volatility hit the crypto market as expected.

Bitcoin’s price tumbled from over $107,000 to under $102,000 as the market prepares for his actions toward the industry after his numerous promises during the campaign.

It was already a wild day as the primary cryptocurrency dumped to under $100,000 this morning following the Trump family’s meme coin saga. However, instead of continuing further south, the asset bounced off and headed toward new peaks.

Just a few hours later, it knocked down the December all-time high and spiked above $109,400 to mark a new record.

More volatility ensued in the hours leading to the start of the inauguration. Yet, BTC had stabilized for a bit at around $107,000 but dropped hard as the ceremony began to just under $102,000.

It has recovered some ground since then, but the total liquidations are still quite high at over $1.1 billion on a daily scale. The single-largest wrecked order took place on Binance and was worth over $15 million.

Solana’s (SOL) price has been on a tear lately, and even the most experienced investors are doing a double-take.

SOL is now hovering around the $260 level after soaring in the past week, especially since the launch of Donald Trump’s Solana meme coin.

But it’s not just Solana’s rally that’s turning heads. New projects building on the blockchain are getting a lot of attention – with layer-2 solution Solaxy (SOLX) raising over $12.3 million ahead of its official launch.

Traders Bet Big on SOL and Potential ETF Approval

It’s been an excellent week for SOL holders.

The token is up 52% from last Monday’s low and was up as much as 72% yesterday before cooling off a bit.

But even after that dip, traders are still buzzing about SOL.

Spot trading volumes are up 10% to $32.2 billion, and derivatives traders are flipping bullish, with open interest on the rise.

Much of this excitement seems to come from talk about a possible spot Solana ETF.

We’ve seen spot Bitcoin and Ethereum ETFs shake up the market, and now Wall Street is wondering if Solana could be next in line for regulatory approval.

JPMorgan’s analysts are optimistic – saying a SOL ETF could bring in $3 to $8 billion from big institutions.

However, it’s not just about a potential ETF.

With Trump back as president, his crypto-friendly comments have investors feeling more confident about the future of digital assets, especially big names like Solana.

Is Solana About to Hit $300? The Case for Continued Growth

So, how high could the SOL price go?

The token nearly hit $300 yesterday, reaching $294 before selling off.

But this sell-off looks more like a natural correction than a dead end for SOL.

On the 1-hour chart, it seems like a classic bull flag pattern is forming, and today’s rebound lines up nicely with the 0.5 Fibonacci retracement level.

This often signals another surge is incoming.

Solana’s fundamentals are also looking solid, suggesting there’s plenty of room for SOL to hit (or pass) $300.

Inflation is down, and developers are having a much easier time building applications on Solana.

Plus, with upgrades like Firedancer set to boost performance, many believe the blockchain is about to enter a new era.

Then consider the growing interest from big institutions in Solana’s real-world asset (RWA) and stablecoin projects.

When you consider all these factors, the $300 mark starts to look less like a peak and more like just another milestone.

Solaxy Presale Passes $12M Mark – Why This Solana Layer-2 Is Going Viral Amid $TRUMP Mania

It’s not just Solana that’s grabbing investors’ attention Projects building on the Solana ecosystem are also seeing demand – especially layer-2 solutions like Solaxy.

Solaxy kicked off its presale in December and has already raised over $12 million.

History shows that layer-2s can be huge for early investors, especially when the market is hot and network activity is spiking.

A prime example is Arbitrum and its native ARB token, which exploded shortly after hitting exchanges.

Solaxy is launching at just the right time. As Solana’s price climbs following the launch of Donald and Melania Trump’s meme coins, there will likely be more demand for solutions that can help it scale.

Solaxy’s off-chain processing and transaction bundling are perfect for this. Plus, it also works with Ethereum, which opens the door to a lot more liquidity – a feature that’s been key for other successful layer-2s.

Right now, SOLX tokens are available in presale for just $0.001608 each.

NASS CRYPTO, a crypto YouTuber with over one million subscribers, is bullish on SOLX’s prospects – describing it as the “next evolution” in layer-2 tech.

He also praised Solaxy’s built-in staking app and its high annual yields.

Of course, there’s no guarantee of success when it comes to early-stage crypto projects.

But with Solana potentially heading to $300 and Solaxy going viral in presale, this layer-2 newcomer is definitely one to watch.

Visit Solaxy Presale

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Donald Trump’s highly anticipated inauguration ceremony officially took place, and he is now the 47th US president.

Despite the numerous reports ahead of time about potentially including crypto in his speech, Trump failed to mention it even once, which triggered a massive crash for the entire market.

Just as the inauguration began, BTC’s price tumbled by over five grand, going from more than $107,000 to under $102,000 in minutes.

However, it managed to recover some ground and spiked to $105,000 during the speech. However, once that concluded and it became evident that Trump will not mention the digital asset industry at all, BTC and the rest of the market headed south immediately.

BTC’s nosedive took it south to $100,500 (for now). Many altcoins bled even more heavily, including Trump’s official meme coin. The recently launched asset is down by over 20% in the past hour alone and now struggles to remain above $40. Recall that it peaked above $70 earlier today but has faced a lot of competition and criticism following the launch of Melania Trump’s alternative.

Other massive losers include SPX, FARTCOIN, HBAR, WIF, LINK, AAVE, WLD, TIA, BONK, and more, as all of them have dropped by more than 6% in the last hour.

The total crypto market cap went from a daily high of over $3.850 trillion to $3.6 trillion during the crash.

The wrecked positions have shot up to nearly $200 million within that same timeframe. Almost 400,000 traders have been liquidated on a daily scale, according to data from CoinGlass.