The launch of Donald Trump’s official memecoin on Solana has boosted the TVL and SOL price to new all-time highs and at the expense of rival Ethereum.
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Solana started a 10% price reversal less than an hour after Pump.fun completed the second transaction of a $55 million Solana transfer to Kraken exchange.
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Solana’s monthly DEX volume surpasses $100 billion for the first time, fueled by high network activity and the memecoin frenzy.
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Solana activity hits record highs on multiple metrics, but data reveals its performance could be inorganic.
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Five of the top 10 crypto protocols by fee earnings in the last 24 hours were on Solana.
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Surging activity in onchain and derivatives metrics suggests that Solana’s bullish momentum is set to continue.
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Some 30% of respondents expect Solana to tap $600 in 2025, according to a survey by MV Capital.
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Solana has surged by approximately 600% against Ethereum since 2023 thanks to the memecoin mania.
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Berachain was among the most hyped crypto projects at Token 2049, as investors are awaiting its mainnet launch before the end of 2024.
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The CFTC’s director warned that other DeFi ecosystems may also be fined for offering illegal trading services, while Polygon’s native token executed a key technical upgrade.
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