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dApps on Solana reach new record
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At the beginning of the week, decentralized applications (dApps) based on Solana have been recording record rates, driven by a new wave of enthusiasm around memecoins.
According to on-chain data, several dApps on the Solana network achieved unprecedented revenue and fees over the weekend.
According to the Defi Llama platform, five of the top ten protocols in terms of fees are based on Solana. Raydium, a popular Automated Market Maker (AMM) on the platform, raised over $11 million in fees on November 17th. Close behind, Jito Protocol, a liquid staking platform, recorded $9.87 million in fees.
This Solana resurgence is directly linked to a new wave of memecoin craze. These cryptocurrencies, driven by positive market sentiment following Donald Trump’s recent victory, have seen a significant appreciation in their market values in recent days.
Solana dApps on the rise
Previously, Solana-based memecoins had already made an impact on the market, recording explosive numbers. The recent surge appears to have sparked new interest in this segment, with mid-cap memecoins rising more than 6% recently.
Additionally, Solana reached a significant milestone, recording its highest weekly activity in terms of real economic value. This feat highlights the growing adoption and use of the Solana blockchain for real-world applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and payment solutions.
As developers and users flock to the platform, Solana’s record-breaking week solidifies its position as a major player in the crypto space, paving the way for further innovation and growth.
The native token $SOL has appreciated 54% in the last 30 days and 17% in the last week alone. Currently, $SOL is just 5% away from its all-time high of $260.06 reached in the last bull cycle. Based on the recent growth trend, cryptocurrency experts expect Solana to surpass its previous record and set a new one.
Solana is clearly benefiting from the ongoing rally triggered by Donald Trump’s pro-crypto victory. Additionally, the Solana ecosystem is buzzing with growth. Pump.Fun, a memecoin launch platform on Solana, recently recorded $1.65 million in fees, its seventh biggest day of earnings.
dApps on Solana reach new record
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dApps on Solana reach new record
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dApps on Solana reach new record
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dApps on Solana reach new record
