Solana

The Solana blockchain witnessed a series of developments in the market, largely driven by a surge in meme coin trading. On Sunday, Solana’s native cryptocurrency, $SOL, witnessed an uptick in fees and revenue, fueled by the growing popularity of meme coins. According to <a href="https://defillama.com/" rel="noopener noreferrer nofollow">data </a>from DeFiLlama, five of the top ten protocols by fees over the last 24 hours were based on Solana which shows the network&#39;s development in the decentralized finance (DeFi) sector.Automatic market maker Raydium made a record $11.31 million, followed by the liquid staking protocol Jito at $9.87 million. Further, Telegram Bot Photon came in the seventh spot with a record fee of $2.36 million, while Pump.fun, the meme coin launchpad witnessed $1.65M.  These figures reflect the demand of traders for meme coins, thereby highlighting its activity in the blockchain.Earlier this month, meme coins on the SOL platform, WIF, POPCAT, and BONK attracted traders. Further, <a href="https://cryptotale.org/top-meme-coin-gainers-this-week-pnut-pepe-doge-and-brett/" rel="noopener noreferrer nofollow">PNUT </a>emerged as the leading gainer of the week, with increased activity over the last seven days. As traders seek more profits, BONK, a prominent meme coin, surged by 30% to reach a new record high and may very well hit $1 by year-end.Related: <a href="https://cryptotale.org/top-10-solana-meme-coins-fun-tokens-you-need-to-know/" rel="noopener noreferrer nofollow">https://cryptotale.org/top-10-solana-meme-coins-fun-tokens-you-need-to-know/</a><a href="https://cryptotale.org/five-protocols-of-solana-break-record-amid-meme-coin-craze/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Five Protocols of Solana Break Record Amid Meme Coin Craze

CryptoTale

Other articles published on Nov 18, 2024

New Trends in the Crypto Market: Surprising Insights from Financial Experts

Polter Finance Loses Over $7 Million in Crypto Hack on Fantom Blockchain

What’s Next for ADA Price As Cardano Nears $1?

Cathie Wood Doubles Down on Massive Bitcoin Price Prediction

Could Trump's Victory Boost XRP to $0.7 by 2025?

OKX Expands Singapore Services with Fee-Free Local Payments

Join our free newsletter for daily crypto updates!