{"id":20475,"date":"2025-01-20T17:37:06","date_gmt":"2025-01-20T15:37:06","guid":{"rendered":"https:\/\/forklog.com\/en\/meme-coin-traders-ignite-a-frenzied-weekend-on-solana\/"},"modified":"2025-01-20T17:37:06","modified_gmt":"2025-01-20T15:37:06","slug":"meme-coin-traders-ignite-a-frenzied-weekend-on-solana","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/meme-coin-traders-ignite-a-frenzied-weekend-on-solana\/","title":{"rendered":"Meme Coin Traders Ignite a Frenzied Weekend on Solana"},"content":{"rendered":"<p>The weekend of January 18-19, preceding the inauguration of U.S. President-elect Donald Trump, emerged as one of the most active periods in cryptocurrency history, particularly for the Solana ecosystem.\u00a0<\/p>\n<p>The most significant factors were the meme coins <a href=\"https:\/\/u1f987.com\/en\/news\/what-to-know-about-donald-trumps-memecoin-surge-supply-and-industry-impact\">TRUMP<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/melanias-meme-coin-leaves-traders-pining-for-gary-gensler\">MELANIA<\/a> launched during this period.<\/p>\n<p>DeFi enthusiast and founder of the Pink Brains studio, known as Ignas, highlighted spikes in several key industry metrics over the past two days.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Probably the craziest weekend in crypto.<\/p>\n<p>Here are 10 charts to visualize it:<\/p>\n<p>1. Record-breaking DEX trading volume:<\/p>\n<p>$27B on Solana, leaving ETH&#8217;s $5B well behind. <a href=\"https:\/\/t.co\/Yao1KDfPJs\">pic.twitter.com\/Yao1KDfPJs<\/a><\/p>\n<p>\u2014 Ignas | DeFi (@DefiIgnas) <a href=\"https:\/\/twitter.com\/DefiIgnas\/status\/1881311913231237291?ref_src=twsrc%5Etfw\">January 20, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Probably the craziest weekend in the crypto industry,&#8221; he noted.<\/p>\n<\/blockquote>\n<p>Amid the frenzy surrounding the Trump family meme coins, as of January 19, trading volume on Solana&#8217;s <span data-descr=\"decentralized exchanges\" class=\"old_tooltip\">DEX<\/span> blockchain reached a record $26.8 billion, compared to Ethereum&#8217;s $5 billion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXelme08NYahfvaA83QyOi1ceYepqWr1JcSimTcau8WxkcAjNn31aVfqripzCOH6fnwnUgqfqmbgtxOhSBn3Um2heReennrkzRyBDFIkFXZ9fUdkXvmtQeJbgKZUZUNwtDfuxJdAqw?key=tQpd8wZVk6G82HpcObNcNlsM\" alt=\"Meme Coin Traders Ignite a Frenzied Weekend on Solana\"\/><figcaption class=\"wp-element-caption\">Daily DEX trading volumes across different blockchains. Data: <a href=\"https:\/\/defillama.com\/dexs\/chains\">DeFi Llama<\/a>.\u00a0<\/figcaption><\/figure>\n<p>The total turnover of decentralized exchanges reached 19% of that of centralized counterparts.<\/p>\n<p>The net inflow of funds into the Solana ecosystem for the week was $153.2 million. Simultaneously, outflows from the Arbitrum network reached $405 million.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXe02RYz7frDK7lN9yjS1EygZCoQz3TPyyJxnzuXWD_ryo_F0RLOtrVIqvBdXcbGzcKJIkXun5ds9nF2fv33TfRyaFoAFhQlD9ePAr7uOn3NddhIdB1sucMOlbvoDMM3gT6ktq_5nQ?key=tQpd8wZVk6G82HpcObNcNlsM\" alt=\"Meme Coin Traders Ignite a Frenzied Weekend on Solana\"\/><figcaption class=\"wp-element-caption\">Net inflows across different blockchains. Data: <a href=\"https:\/\/app.artemis.xyz\/flows\">Artemis<\/a>.<\/figcaption><\/figure>\n<p>The activity of TRUMP traders spurred SOL&#8217;s growth relative to ETH. The indicator <a href=\"https:\/\/www.investing.com\/crypto\/solana\/sol-eth-historical-data\">reached<\/a> a three-year high \u2014 over 25% in a day.<\/p>\n<p>Amid the excitement, fees on the Solana network increased on average 20 times compared to normal levels. A total of approximately $57 million was collected as transaction fees.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdqPRMcJdFBUjWVN8AsXQ8ElkHA04CmyH1sMDhf7LkOy_N0WIDidrxqiX2sbJcboGZfn9aALz9DejioIF6MeWyd8gyw0PwqZSrEg3ZmkFVc1KtslzAlvjIU34yIx-EDQT7JIOdy2g?key=tQpd8wZVk6G82HpcObNcNlsM\" alt=\"Meme Coin Traders Ignite a Frenzied Weekend on Solana\"\/><figcaption class=\"wp-element-caption\">Transaction fee on the Solana network (in SOL). Data: <a href=\"https:\/\/dune.com\/ilemi\/solana-compute\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<p>On January 19, the value of burned SOL coins reached a record $16.7 million \u2014 81% of the daily issuance.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdFIZ6T6U7r5cxShfrqrJAvbGSsMKIo212-jCFgyf__iwI1-ufQu3P-BzceDQKSYK6UkVjkqHT2HHYfxTJdqxp5ihSfElwKr9qM2QNB-lq6VyzRZenR1oo3dAXLyNmulHkOvIm5WQ?key=tQpd8wZVk6G82HpcObNcNlsM\" alt=\"Meme Coin Traders Ignite a Frenzied Weekend on Solana\"\/><figcaption class=\"wp-element-caption\">Daily amount of burned SOL coins. Data: <a href=\"https:\/\/solana.blockworksresearch.com\/sol\">Blockworks<\/a>.<\/figcaption><\/figure>\n<p>On January 18, the price of SOL <a href=\"https:\/\/u1f987.com\/en\/news\/solana-hits-record-high-as-on-chain-trading-surges\">reached<\/a> a historic high of $270, and the next day set a new record \u2014 around $295. At the time of writing, the coin is trading at $255.6 with a market capitalization of $124.18 billion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdZcMmvesT-fXYOKfneomB4k1IcOhJ5F3biGNAF7AVevqjyzzqIZSPiKdZih7X5kmrbXyLT02TYTZmlCyv2-PjzJ_FmAnQlO-3SC4Insw28Vqji9K-XIaDOtfbxqMwxp4X6fSVjZQ?key=tQpd8wZVk6G82HpcObNcNlsM\" alt=\"Meme Coin Traders Ignite a Frenzied Weekend on Solana\"\/><figcaption class=\"wp-element-caption\">15-minute SOL\/USD chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BINANCE%3ASOLUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Previously, experts from Fidelity <a href=\"https:\/\/u1f987.com\/en\/news\/fidelity-calls-solana-a-serious-competitor-to-ethereum\">described<\/a> Solana as a &#8220;serious competitor&#8221; to Ethereum.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The weekend of January 18-19, preceding the inauguration of U.S. President-elect Donald Trump, emerged as one of the most active periods in cryptocurrency history, particularly for the Solana ecosystem.\u00a0 The most significant factors were the meme coins TRUMP and MELANIA launched during this period. DeFi enthusiast and founder of the Pink Brains studio, known as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20474,"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":[1268,1138,1159],"class_list":["post-20475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-on-chain-analysis","tag-opinions","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"38","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20475","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=20475"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20475\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/20474"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=20475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=20475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=20475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}