{"id":20443,"date":"2025-01-19T10:11:53","date_gmt":"2025-01-19T08:11:53","guid":{"rendered":"https:\/\/forklog.com\/en\/solana-hits-record-high-as-on-chain-trading-surges\/"},"modified":"2025-01-19T10:11:53","modified_gmt":"2025-01-19T08:11:53","slug":"solana-hits-record-high-as-on-chain-trading-surges","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/solana-hits-record-high-as-on-chain-trading-surges\/","title":{"rendered":"Solana hits record high as on-chain trading surges"},"content":{"rendered":"<p>On 18 January, Solana (SOL) set a new all-time high around $270. The token rose 45% over the past week.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"453\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/SOLUSDT_2025-01-19_09-43-24-1024x453.png\" alt=\"SOLUSDT_2025-01-19_09-43-24\" class=\"wp-image-249809\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/SOLUSDT_2025-01-19_09-43-24-1024x453.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/SOLUSDT_2025-01-19_09-43-24-300x133.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/SOLUSDT_2025-01-19_09-43-24-768x340.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/SOLUSDT_2025-01-19_09-43-24.png 1355w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute SOL\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/SOLUSDT\/\">TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n<p>The coin surpassed its previous record from November 2024, when it peaked at $254.<\/p>\n<p>The rally was driven by the launch of the \u201cofficial\u201d TRUMP memecoin by U.S. president-elect Donald Trump on Solana. Within a day the token climbed to $39, implying an FDV of $39.7bn.<\/p>\n<p>According to <a href=\"https:\/\/defillama.com\/dexs\/chains\/solana\">DeFi Llama<\/a>, the frenzy around the coin pushed daily decentralized-exchange volumes on the network to $19bn\u2014nearly five times the year-to-date average.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"439\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/19679b-1024x439.png\" alt=\"19679b\" class=\"wp-image-249810\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/19679b-1024x439.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/19679b-300x129.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/19679b-768x329.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/19679b.png 1183w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: DeFi Llama.<\/figcaption><\/figure>\n<p>In doing so, Solana\u2019s DEX volume exceeded that of all other blockchains combined. Its dominance in the DEX segment reached 52%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">?BREAKING: <a href=\"https:\/\/twitter.com\/solana?ref_src=twsrc%5Etfw\">@Solana<\/a> surpasses all other chains combined in 24-hour DEXs volume.<\/p>\n<p>Dominance: 52% <a href=\"https:\/\/t.co\/bP2B0v9vvR\">pic.twitter.com\/bP2B0v9vvR<\/a><\/p>\n<p>\u2014 SolanaFloor (@SolanaFloor) <a href=\"https:\/\/twitter.com\/SolanaFloor\/status\/1880634672499273730?ref_src=twsrc%5Etfw\">January 18, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Commenting on TRUMP\u2019s impact on SOL\u2019s price, a former Google developer known as TechLead noted that Trump\u2019s coin should not have pumped the base-network token.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24TRUMP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$TRUMP<\/a> at ATH. Impressive tbh.<\/p>\n<p>There&#8217;s a misconception on Solana thesis however. Since this liquidity is paired against USDC (as opposed to SOL), <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a> should not be pumping at all\u2026 The SOL gets sold immediately to USDC to TRUMP. No real demand for SOL. <a href=\"https:\/\/t.co\/7XV3jKkSnm\">pic.twitter.com\/7XV3jKkSnm<\/a><\/p>\n<p>\u2014 TechLead (@techleadhd) <a href=\"https:\/\/twitter.com\/techleadhd\/status\/1880870765886914648?ref_src=twsrc%5Etfw\">January 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In his view, TRUMP\u2019s liquidity is paired with USDC, so demand for SOL is limited, given low fees.<\/p>\n<p>On 16 December, the cryptocurrency XRP <a href=\"http:\/\/forklog.com\/news\/xrp-dostig-semiletnego-maksimuma-na-ryade-krupnyh-birzh\" title=\"\">neared<\/a> its all-time high, reaching $3.4.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 18 January, Solana (SOL) set a new all-time high around $270. The token rose 45% over the past week. 15-minute SOL\/USDT chart on Binance. Data: TradingView.\u00a0 The coin surpassed its previous record from November 2024, when it peaked at $254. The rally was driven by the launch of the \u201cofficial\u201d TRUMP memecoin by U.S. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20442,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[787,1159],"class_list":["post-20443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dex","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=20443"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/20442"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=20443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=20443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=20443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}