Solana (SOL) has gone up by 14.2% in the past 24 hours after President Donald Trump said that he will pause the implementation of high tariffs on imported goods from countries that have not retaliated against the U.S.
Trump’s tariffs went into effect at midnight. However, he confirmed a few hours ago that he would pause them for 90 days to negotiate with multiple countries. In the meantime, a 10% tariff will apply to all imported goods while the final negotiations are being settled.
Solana’s trading volumes, which had already climbed above average levels, skyrocketed by nearly 36% in the past day after the news broke.
As a result of this uptick, SOL has also trimmed its 2025 losses to 37.3% while other cryptocurrencies including Ethereum (ETH), XRP (XRP), and Bitcoin (BTC) experienced similar 12.4%, 12.7%, and 7.6% increases respectively.
🚨BREAKING: A team of ex-Kraken execs has acquired real estate platform Janover (NASDAQ: $JNVR) and announced plans to stockpile @Solana as a core strategic asset.$JNVR stock has surged over 800% following news of a $42 million raise. pic.twitter.com/YpRXOTtntI
— SolanaFloor (@SolanaFloor) April 8, 2025
Earlier today, a group of former executives from the crypto exchange Kraken also announced that they received a $42 million investment from a group of prominent venture capitalists to set up a Solana (SOL) treasury through a public company called Janover, which they recently acquired.
This strategy would mimic what Michael Saylor did with Bitcoin as he turned MicroStrategy into a BTC reserve by using the company’s finances to acquire as many tokens as he could.
Top decentralized finance (DeFi) tokens within the Solana ecosystem were also boosted by Trump’s tariff pause. Jupiter (JUP), Raydium (RAY), and Jito (JTO) have gone up by 12.2%, 12.8%, and 9.4%, respectively.
Solana Encountered Significant Buying Pressure Once It Hit $100
Looking at the daily chart, today’s uptick has pushed Solana (SOL) above a key support level that it recently broke at $112, while negative momentum was backstopped by Trump’s pause as well.
Before the news, the price seemed poised to retest its lowest level in 15 months or so as SOL briefly broke below the $100 level this week. However, the token encountered significant buying pressure at this key level and now its outlook has improved as macro conditions have improved temporarily.
For now, the situation is quite volatile, but it is a remarkable improvement compared to a few hours ago.
However, China was still slapped with a 125% tariff on all imported goods after Beijing retaliated by increasing its levies on imported U.S. goods despite Trump’s threats.
Since China is a key commercial ally of the United States, the market is still concerned that the two countries could remain in a standoff that could result in negative economic growth.
Meanwhile, higher import duties on Chinese goods could result in higher inflation in the United States. This would deter the Federal Reserve from making one or all of the interest rate cuts it had planned for the year, which would also be bad for financial assets.
As SOL recovers some of the territory it has lost, all crypto presales connected to this asset should perform much better. Solaxy ($SOLX), a layer-two scaling protocol for the Solana network, is already leading the scoreboard as one of the best ICOs of 2025.
Solaxy Raises Nearly $30M to Solve Solana’s Congestion Issues
Since its presale event kicked off in December last year, Solaxy (SOLX) has raised $29.6 million to improve the efficiency of the Solana mainnet.
This is achieved by bundling transactions offline safely and cheaply in a side chain. By increasing the number of transactions added per block, Solaxy reduces the layer one’s congestion and eliminates errors and delays.
The developing team has already made significant progress to launch the L2. They have partnered with top-notch blockchain companies like Sovereign Labs and Hyperlane and early tests have yielded satisfactory results.
Apart from the significant upside potential that $SOLX offers once the protocol starts to be embraced by top exchanges and wallets, investors willing to stake their assets to secure the network will also receive a handsome 138% annual percentage yield (APY).
To buy $SOLX, simply head to the Solaxy website and connect your wallet. You can either swap USDT, ETH, or SOL or use a bank card to make your investment.
