Week in Solana: MagicEden Says $ME Too, Tron Steals Meme Coin Traders
Solana's price broke $160!Ecosystem TVL grew to $5.15B!Magic Eden launches $ME token!Let's unpack today's crypto market
Solana's ecosystem has been buzzing with activity over the past 30 days. Its price briefly surged past $160 before sliding back to $147, reflecting high volatility amidst global crypto developments.
Despite the price fluctuations, Solana's ecosystem continues to grow, with Total Value Locked (TVL) rising to an impressive $5.15 billion.
Solana Ecosystem Growth and TVL Expansion
Solana's ecosystem TVL has grown to $5.15 billion, largely driven by the stablecoin market, which now comprises nearly $4 billion. Furthermore, Solana recorded 1.74 million active addresses within a 24-hour period, exhibiting a 50% increase from last week. Trading volumes also remained strong, hitting $2.5 billion, though fees and revenue have been trending downwards.
DeFi and DePIN Activity
DeFi activity in the Solana ecosystem has been relatively flat, with only a few platforms showing notable growth. Kamino saw a modest 5% rise, while Jupiter grew by a substantial 78%. On the other hand, Solana's DePIN (Decentralized Physical Infrastructure Networks) sector experienced more robust growth, with Render and Nosana rising 25% and 40%, respectively.
Solana's NFT Market Booming with Magic Eden's $ME Token Launch
Solana's NFT ecosystem is seeing a lot of activity, thanks in part to the launch of Magic Eden's $ME token and its upcoming airdrop. According to data from NFTPulse, Solana now dominates most NFT categories, further solidifying its position as a major player in the NFT space.
Overall, Solana's ecosystem is continuing to grow despite market volatility, with increasing TVL, active addresses, and NFT activity signaling that the platform is on a positive trajectory for further development.
The above provides a brief overview of the key metrics and trends within the Solana ecosystem over the past 30 days. For more in-depth analysis and breaking news in the crypto markets, continue following CoinMarketCap and checking our latest crypto news articles.
crucial to note that this is not trading or investment advice. Always conduct your research before purchasing any cryptocurrency or utilizing any services.
The above is the detailed content of Week in Solana: MagicEden Says $ME Too, Tron Steals Meme Coin Traders. For more information, please follow other related articles on the PHP Chinese website!

Hot AI Tools

Undress AI Tool
Undress images for free

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

Notepad++7.3.1
Easy-to-use and free code editor

SublimeText3 Chinese version
Chinese version, very easy to use

Zend Studio 13.0.1
Powerful PHP integrated development environment

Dreamweaver CS6
Visual web development tools

SublimeText3 Mac version
God-level code editing software (SublimeText3)

Hot Topics

Many ETF issuers are scrambling to apply for SolanaETF, but BlackRock is still holding back? This article will interpret this phenomenon. SolanaETF application boom The Securities and Exchange Commission (SEC) has accepted SolanaETF applications submitted by several institutions, including Bitwise, 21Shares, VanEck, CanaryCapital and Grayscale. Bloomberg predicts that the probability of Solana spot ETF being approved by the end of the year is as high as 70%, which is closely related to the Trump administration's friendly attitude towards cryptocurrencies. The establishment of Franklin's "Franklin SolanaTrust" also implies its potential application for SolanaETF. However, Sol

Solana memecoins continue to make waves in the crypto space with the newest memecoin that has taken the crypto space by storm, Peanut the Squirrel (PNUT) token

Solana (SOL) ETF application: In-depth analysis and future prospects In the near future, there is a surge in crypto ETF applications, which is closely related to the SEC's increasingly friendly attitude towards cryptocurrencies and its clear approval rules. As a mainstream cryptocurrency, Solana (SOL)'s ETF application progress has attracted much attention. This article will conduct in-depth discussion on the current status, impact and future prospects of SOLETF applications. Current status of SOLETF application. Several institutions have submitted SOL spot ETF applications, among which Grayscale is particularly eye-catching. It plans to convert Solana Trust Fund into spot ETF, which will further expand its influence in the digital asset market. If approved, the ETF will be listed on the New York Stock Exchange under the code

Solana's recent price decline may be related to the potential Binance listing speculation of PiCoin (PI). Binance's poll showed that 86% of participants supported the listing of PI coins, which could attract a large amount of capital to flow into PI, causing some Solana investors to turn to PI. Solana's price plummeted: Will PI coins replace SOL and become the first choice for investors? Solana (SOL) prices have fallen sharply recently, falling 16% last week and 37% last month. Loss of key support levels has heightened investor concerns. While the overall crypto market downturn is partly responsible, the panic selling of traders has exacerbated the decline. Solana network activity has dropped significantly, with transaction volume plummeting from $1.99 billion in November 2024

The XRP token has experienced an upward trend not seen in years, as its price surged massively, reaching a three-year peak of $1.2654.

On November 17, 2024, the latest exchange rates of Dogecoin (DOGE), Ripple (XRP), and Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) have been reported.

SolanaETF: Will it be approved this year? What impact will it have on the market? After Bitcoin and Ethereum spot ETFs were approved, the market's attention turned to the next potential ETF target: Solana. Several companies have submitted SolanaETF applications, triggering heated discussions in the market about the possibility that SOL spot ETF will be approved this year. Latest progress of SolanaETF Recently, VolatilityShares' two Solana futures ETFs have been included in the US Securities Centralized Custody and Settlement Company (DTCC) list, indicating that the SolanaETF ecosystem has entered a critical stage and has also increased the expectation of SOL spot ETF approval. DTCC plays a central role in global financial markets, and its list means these

Jupiter: Leading DEX Aggregator in the Solana ecosystem This article will explore Jupiter, the leading decentralized exchange (DEX) aggregator in the Solana ecosystem. Jupiter integrates the liquidity of multiple DEXs to provide users with the best price, lowest slippage and efficient trading experience. Jupiter's core advantages: Price advantages: By aggregating multiple DEXs, ensure that users obtain the best transaction price. Speed Advantage: Use Solana's high TPS to achieve extremely low transaction latency. Fee Advantage: Solana's Gas costs less than other blockchains. Jupiter main functions: 1.DEX aggregation: J