Along with the rise in the price of Bitcoin, The price of Solana’s SOL token also hit new local highs, breaking the $200 mark. In practice, the enthusiasm surrounding Solano is currently fueled mainly by the trend around memecoins. An area in which the Solana blockchain seems to be the undisputed queen. A trend that continues with the start of a bull run.
Solana: Queen of Memecoins
Solana has been in the spotlight for almost a year now after the rise of the memecoin ecosystem. So last May more than one half a million new tokens launched on Solana.
A trend that seems to be continuing. Really, 91% of new tokens that are created in our ecosystem are launched on Solana. This is way ahead of the Base which is trying to get 7% of tokens created.
In terms of activity on the chain, Solana also remains in the lead. So Blockchain is currently recording a an average of 40 million transactions per day. This is transaction data that does not take into account transactions related to on-chain consensus.
Pump.fun: the catalyst for Solan’s success
Memecoins have been in the spotlight on Solano for several months now. However, this trend took a completely different direction after the launch Pump.fun.
It is a platform that enables users launch your own token in a few clicks and for just a few dollars.
Since then, it has been at the origin of the creation of millions of tokens on Solana with varying lifetimes.
Following the election of Donald Trump as President of the United States and the rise of cryptocurrency prices, activity on Pump.fun has picked up again.
That is, according to data compiled by the company DefiLlamathe platform records daily income over a million dollars since the election.
In addition, Pump.fun could well be expected to surpass its record of $2.3 million in fees on July 30 in the coming days or weeks.
In October, Solana was by far the most popular blockchain. According to data shared by TheBlock Solana recorded no less than 123 million active addresses in Octoberan absolute record for the entire ecosystem. Note that these are not necessarily distinct users and that most of them are probably bots.
