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Each crypto bull market to date has lasted an average of 1,100 days from trough to peak.

Only 720 days have passed this cycle, indicating a potential year of upside before a cycle top. Perhaps, we’re just at the beginning.

The total crypto market jumped a staggering 40% last week on the back of a victory for president elect Trump, with Solana flipping PayPal in market cap.

The driving force behind the rally seems to be speculation on friendlier regulation and a lower tax burden under the new administration.

Solana’s DeFi tokens reached new ATHs too, causing much celebration on CT.

Both institutions and retail made moves on Solana. Native USDC supply on Solana grew by 14% last week, indicating institutional activity and corporate interest — which many believe will pick up steam under Trump’s America. 

On the retail side, memecoins continue to onboard new users. Pump.fun recently clocked a record 125,000 active users, more than doubling its average in recent months. With $GOAT being the first Pump.fun token to reach $1B in market cap. While $PNUT reached $1B soon after.

Is there more in this bull market? Fundamental and technical indicators seem to point one way at the moment, and that’s up!

Keep Drifting.

Just Driftings’

• Drift lists new memecoin perp markets. Trade $GOAT, $FWOG and $PNUT with up to 4x Leverage.

• dSOL approaches 500,000 total stake, climbing a whopping 16k from the previous epoch. Liquid stake your SOL with Drift to earn yield.

• Radar’s Hackathon concludes, as 5 Drift Ecosystem teams secure prizes. Congratulations to Reflect, Hylo, Quartz, The Arena and Neutral Trade.

• $DRIFT is now listed on Binance, and the South Korean exchange Upbit.

Driftors on CT