Solana Bounced Hard as Market Optimism Returned Following the Trump Administration's Apparent Softening Approach to Tariff Negotiations

Solana bounced hard the last seven days (March 19-25) as market optimism returned following the Trump administration's apparent softening approach to tariff negotiations.

Solana (SOL) experienced a strong rebound over the last seven days (March 19-25), as market optimism returned following the Trump administration's apparent softening approach to tariff negotiations. The U.S. Federal Reserve also kept interest rates unchanged and hinted at two cuts in 2025 during the week, further boosting sentiment.

As the week progressed, Solana managed to rise by 12%, reaching $140 by Friday morning. This increase followed a triple bottom formation at the $125 level, which unfolded after Solana's price crashed below $100 in February.

Here are some of the major events that unfolded in the Solana ecosystem during the week:

* Raydium unveiled LaunchLab, a flexible token launch platform, aiming to retain its market share as Pump.fun threatens Raydium’s liquidity dominance.

* two funds, SOLZ and SOLT, began tracking Solana futures, offering investors exposure to the layer-1 network through a familiar product type. Notably, DEFI STATION, a South Korean firm, launched the first futures ETF, SOLZ, on March 17, while Canary Funds filed for a PENGU ETF.

* U.S.-based investment firm Fidelity could be making moves toward a Solana ETF as it applied for a new trust, named "Fidelity Solana Fund." This development follows Fidelity's management of the second-largest Bitcoin ETF. However, the firm has yet to confirm if this trust will lead to an ETF proposal.

* Pump.fun, a prominent Solana meme coin aggregator, announced the launch of its own decentralized exchange (DEX), PumpSwap. This move follows Raydium's dominance in facilitating meme coin trading on Solana. With the launch of PumpSwap, meme coins will now migrate directly to the exchange, reducing friction and complexity.

CoinMarketCap

DeFi TVL: $7.201 billion

Daily active addresses: >3.8 million

Active wallet addresses increased 6% to 3.8 million, while total value locked (TVL) is up 2% to $7.2 billion.