SOL breaks $200, market cap hits new high, meme coin frenzy sweeps Solana
The success of Solana's meme coin further fuels the trend of coin issuance, leading to historical records being set in various on-chain data.
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Solana Hits $200, Setting a New All-Time High Market Value
Solana (SOL) reached a high of $205.4 on the 18th, marking its highest level since December 2021.
The market value of SOL has also reached $90.6 billion, hitting a new all-time high.
Solana's Recent Coin Issuance Craze
The success and skyrocketing value of the meme coin Book of Meme (BOME) have further fueled the coin issuance craze on Solana.
Meme coin Book of Meme (BOME) surged fivefold in 24 hours, with one address making $4.3 million in two days
Anonymous artist Kero recently expressed interest in launching a "junk coin" on Solana and started a presale, raising nearly 55,000 SOL in just one day, equivalent to over $11 million. He also admitted that he didn't even know what he was going to issue.
The trend of influencers announcing fundraising and coin issuance on the Solana network has become increasingly frenzied, sparking discussions within the crypto community.
Crypto ICOs (Presales):
SOL raised $2 million in 2020
BNB raised $15 million in 2017
ETH raised $18 million in 2014
Random Twitter guy raised $32 million in 2024
— borovik.eth (@3orovik) March 17, 2024
Solana's Weekly Trading Volume Reaches All-Time High
The Block cited DefiLlama data indicating that Solana's on-chain weekly trading volume reached $3.79 billion as of March 15, setting a new all-time high and surpassing its previous record of $2.85 billion.
Solana's On-Chain Daily Active Wallets Surge
Data from The Block shows that the 7-day average of active addresses on Solana's blockchain continues to rise, with 1.2 million active addresses on the 16th, reaching a new high since around June 2022.
Solana's New On-Chain Wallets Reach All-Time High
The 7-day average of new on-chain wallets on Solana also continues to soar in a parabolic trend, with nearly 870,000 new wallets added on the 16th, setting a new all-time high.
Solana's On-Chain Fees Hit All-Time High
Solana's on-chain fees have also hit a new all-time high, with on-chain fees reaching $3.83 million on the 16th, equivalent to 20,350 SOL.
Institutional Analysis of Solana's Four Technical Developments: SOL Ecosystem is Indeed Improving
