Tag: Solana

Meme Coins Push Solana to Record Revenue Heights

Summary: Meme coins are infamous for their sudden popularity and drastic fall in short period of time. However, this time the craziness for meme coin has pushed Solana to a new all time high in fees and revenue. The blockchain managed to surpass one of the crypto giants Ethereum in daily feels and set new records.

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Meme Coins Fuel Solana’s Boom

According to Defi Llama, Solana earned $11.8 million in daily fees, more than Ethereum did ($6.32). Due in large part to the meme coin craze, the network also generated a record $5.9 million in revenue each day. Sites such as Pump.fun, a meme coin launchpad based in Solana, made a substantial contribution and made $2.4 million in a single day.

Raydium Takes the Lead

Raydium, Solana’s top decentralized exchange, played a pivotal role by generating over $1 million in daily revenue. Its low fees and high activity reflect the growing appeal of Solana’s DeFi ecosystem, which now boasts a total value locked (TVL) of $8.35 billion.

Solana Nears ATH Amid Rally

SOL’s market capitalization has increased by 295% in the last year, to $113 billion, which is getting closer to USDT’s $128.8 billion. As evidence of its tenacity and development potential, Solana is just 8.7% away from its all-time high of $260, despite a minor decline to $238.

READ MORE: Simon’s Cat Token: A Rising Memecoin Driving Solana’s Surge





Simon’s Cat Token: A Rising Memecoin Driving Solana’s Surge

The Simon’s Cat token (CAT), launched in August in collaboration with Floki, BNB Chain, and DWF Labs, is tied to the Simon’s Cat brand and backed by its $5.8 billion revenue IP. Its early access was offered to BONK holders on Solana, which ended up raising $240,000 via vaults. Solana’s recent memecoin surge has seemingly increased in huge demand for its ecosystem, including some record-breaking trading fees.

The Simon’s Cat Token known as CAT is a memecoin launched in August in collaboration with Floki, BNB Chain, and DWF Labs, is getting whale’s eyes all over it as of recent. It is the first major cat-themed token on the BNB Chain and is formally tied to the popular Simon’s Cat brand, which is supported by its $5.8 billion intellectual property. It mainly targets meme enthusiasts by offering them early access incentives to BONK holders via Solana. Its close ties with Solana really boosts the platform’s growing role as a hub for memcoin activities. They also offer early access incentives to BONK holders via Solana.

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Basically, BONK holders can score early access to Simon’s Cat Token (CAT) on Solana with a 12-month token lock. The vault which was initially capped at just $100K worth of CAT at a discount, smashed through every expectations and reached $240K in stablecoins deposited overnight.

With this and the already positive vibes by Solana sets it as the ultimate memecoin hotspot. Its continuously pulling off wild trading cycles that pump demands for SOL, with these profits funneled into fresh tokens. Back in March, Solana broke its all-time fee record, raking in $3.02M in just one day, which left behind big names such as Ethereum, BNB Chain, and Tron. Clearly, all eyes are glued to Solana right now!

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Pump.fun Sells $25M in SOL as Solana’s Price Soars

Pump.fun has just sold 105K SOL, which is $25.14M after Solana price surged to $241.66. They have been cashing out their fees for months, sparking numerous debates. Its divided though, some say its fair while others worry it’s messing with SOL’s price stability. So far, they’ve sold out nearly $160M worth.

Pump.fun is basically a memecoin launchpad platform that helps launch and promote meme-based cryptocurrencies. It makes revenue earnings through fees from token transactions and has accumulated a large amount of Solana (SOL) tokens. However, them selling too much of SOL tokens have led to a problem.

Just recently it has sold another 105,000 SOL tokens which is valued at $25.14 million. This has been a major catalyst in intensifying pressure on Solana’s price. A blockchain analytics platform named Lookonchain revealed the transaction to the general public, noting that the tokens were transferred to Kraken in a single move.

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Pump.fun Sellings

Pump.fun has bagged huge profits as they sold huge chunks in the latest surge of Solana’s SOL. It had recently spiked from $135 to $241.66. This is no new news though, they’ve done this before, like when SOL hit $200 earlier this month. Since launching, they’ve racked up 1.3M SOL, selling $157M worth for costs. Some think it’s fair, but others worry it could mess with SOL’s price.

Read more: Crypto Podcaster Cobie Burns Majority of ‘UPONLY’ SOL Tokens in Bold Move

Solana Breaks Through $200 Barrier with Impressive 9% Surge in Value

Solana just hit $200 for the first time in seven months, jumping 8.69% as the crypto market rallies post-US election. Its currently at $203.88 which represents a 22.25% rise since last week and whopping 370% over the last year. Despite being 23% below its all-time high of $260, it’s riding the bullish wave fueled by Trump’s win and pro-crypto candidates in Congress. Hence overall market peaked, with Bitcoin and Ethereum also hitting record highs.

Following recent US presidential election, whole crypto market saw huge growth, which benefitted big names such as Bitcoin, which is currently trading at its all time high $75K. And so, Solana also hopped in on the party by finally breaking through its $200 mark after struggling for seven months. While this is still below its all-time high, this performance ignites optimism for future gains.

On the day of election, crypto market witnessed massive burst after Trump was announced victorious. Reportedly, the market capitalization rose by 5% that day and reached a staggering $2.56 trillion. One of the reasons for this might be the shear amount of pro-crypto candidates inside the House of Representatives.

Solana Price Outlook

As of November 9, Solana’s token SOL is priced at $197.93, although this is lower than $200 its just a minor volatility and the overall report suggests positive improvements. Its 24 hour trading volume is of about $4,886,202,079, it indicates 1.63% decline in the last 24 hours but overall it has increased by 21.29%, considering past seven days. With a total circulating supply of 470 million and a huge market cap of almost $93 billion, SOL is comfortably placed at fourth position amongst world’s top cryptocurrencies.

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Crypto Podcaster Cobie Burns Majority of ‘UPONLY’ SOL Tokens in Bold Move

Crypto Influencer known as Cobie (Jordan Fish) just burned 60% of the Solana meme coin “UPONLY” which was worth $17 million after it was gifted to him. He burned it by distancing himself completely from the token linked to his old podcasts. The burn dropped UPHOLY’s market cap from $45 million to mere $4.3 million. After this, Cobie, who co-hosted UpOnly with Ledger until FTX’s collapse, is now working on a new crypto project called Echo.

Crypto Influencer Cobie (Jordan Fish) sadly just torched 60% of Solana’s meme coin “UPONLY. The coin was issued via Pump.fun on Friday November 8 after the tokens were received as a gift. UpOnly is the name of podcast he runs, which became a meme on Cobie’s former crypto show and an unknown developer even sent  600 million coins to the trader. However, Fish has stated multiple times that he has no ties with this meme token.

Firstly Fish posted a screenshot of swapping UPONLY coins for a dog-themed token called Dogwifhat, then he again shared a pic of him burning the tokens and jokingly saying “This was worth $17 million when I burned it lol.” Maybe he was too naive to realize but in crypto, burning means the tokens are permanently destroyed and taken out of the circulation, which means it was a total waste worth of millions.

Solscan confirmed Cobie burned 600 million UPONLY tokens which dropped the supply to 400 million. The coin’s market cap shot up to $45M before crashing to $4.3M after the burn. After the incident, Cobie’s old podcast which was backed by FTX, decided to part ways. And after the exchange collapsed, he and co-host Ledger moved on to other crypto projects.

As of now Fish is working on a new collaborative crypto angel, Echo, but their activities have largely remained unknown.

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Solana Breaks Records Across the Board – Is SOL About to Skyrocket?

Summary

Solana is absolutely booming right now, hitting some major heights that are getting investors all pumped up. With such insane improvements in how fast it handles transactions and a serious boost in active users, Solana is popping off like a rocket. This momentum could mean big things for SOL itself, pointing towards some serious gain if this keeps up.

Solana, a high-performance blockchain platform designed to support dApps (Decentralized apps) and crypto projects at lighting speed has recently made it to impressive heights across various metrics, sparking enthusiasm among investors. The networks’ improvement is most seen in transaction speed and user adoption. These indicate a strong growing trajectory and it only suggests upward momentum in the future. This rise is also setting a stage for rise of Solana’s native token SOL.

During the last week of October, Solana (SOL) started getting massive gains, increasing by almost 8.07%. Its price rose as high as $181.04 during that time but this momentum shifted downwards as by October 26 its price reached $160, despite bitcoins effort to push altcoins similar to Solana. As the time of writing, trading volume for Solana has jumped by 38% in the past 24 hour, reaching $3.89 billion. With a circulating supply of 470 Million SOL and a market cap of almost  $81,149,286,215, SOL is comfortably placed at number 5 in the crypto market.

Solana’s AI Crypto Flávia Hits $40M Market Cap Within 9 Hours of Launch

Summary

Flávia memecoin is making tides on the crypto scene as its market value has already exceeded 40 million US dollars in just nine hours of its launch.

Flávia is a solana-based AI memecoin is a recently added entity in the crypto market. It has been seeing constant increase in price since its release. It crossed an impressive 40 million USD in just nine hours of its launch. Reportedly, its current transaction volume has exceeded 64.8 million US dollars.

People believe this to be some sort of miracle, according to a report by LookOnChain, one guy turned $668 into $1.79 million in a matter of just 10 hours. That is a 2693 times return, this is nothing short of a miracle. Some believe this to be pure luck while there is also an argument of him being an insider. Reports also suggest Flavia being related to Trevor, the founder of virtual internet celebrity startup Brud, and may be a product trained by Trevor using Anthropic’s computer use.

According to solscan, top 10 Flávia holders collectively own 211,172,782.99 tokens which is 21.12% of the total available tokens. As of October 23 2024, the price of Flávia on Raydium is $0.04083 which indicates 61,364% increase in the last 24 hour. Its 24 hour trading volume is estimated to be around $89.44 million. It is interesting to see how far this token can reach.

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