Solana Bull Run and The Trump Meme Coin
It's another weird and wacky day in the world of Cryptocurrency with Solana going on an epic bull run leaving many people in the dark on what caused such a flurry in activity with crypto news sites reporting it was Donald Trump's official memecoin which reportedly raised over USD 35 Million in fees and a revenue of USD 14 Million.
Much of the data can be confirmed on DefiLlama which shows some serious investment from fans across the world as they back the Trump memecoin. While reports are coming out that Trump own's the coin official media and documents also show that the incoming first lady, Melania Trump's launched her own token shortly after the Trump token began to decline.
The Trump token did see it's value halved on Sunday in the U.S before recovering slightly but as all things, investors must be warned that memecoin's are extremely risky investments.
Solana Breaks Records with Daily Fees
Thanks to the TRUMP token which made its debut on the Solana blockchain and caused a frenzy that generated over USD 35 million in daily fees a new high for the low cost blockchain known for its efficient transaction processing. Solana’s fees which are typically a fraction of a cent per transaction did manage to soare as 6 million active addresses started trading TRUMP. Of the USD 35 million in fees at least USD 14 million translated directly into revenue for Solana.
This level of activity dwarfed Solana’s previous high of USD 14 million in fees recorded during a trading surge of AI Agent tokens in November 2024. The TRUMP token attracted over USD 3 billion in trading volume within just two days of it's launch with broader Solana projects like Jupiter’s JUP token also seeing a significant rises in interest. Solana’s native token, SOL surged with its trading volume skyrocketing from USD 3 billion to USD 26 billion over 24 hours and weekly gains exceeding 46%.
A new record for the Blockchain.
Why Did Trump Launch on Solana?
There are many questions being raised on why Trump chose Solana to launch he's meme token on and while we do not know for certain as Trump is rich enough to launch it on any chain, but it is important to point out that Solana is built by a San Francisco company that is based in Geneva. while many of the other Crypto companies are based outside of the U.S This could potentially be Trump positioning America as a leader in Crypto development.
This could also possibly see Solana packing it's office up in Geneva and heading back to U.S soil to continue to plan, develop and build the next phase of blockchain solutions. This is a major play from the U.S president if true and he's weight alone has pulled funds from other chains such as Ethereum and Bitcoin to Solana.
A shift that without any legislation or effort has seen Trump make a move on some of he's core election promises to make the U.S the Crypto future of the world.
Interesting times ahead, let me know your thoughts in the comments section below.
image sources provided supplemented by Canva Pro subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.
Posted Using INLEO
Trump coin is on fire and it's the hype in cryptocurrency market for now.
yup, careful as memecoins are known to be rough
💯 agree
It's fascinating to see how the cryptocurrency world continues to evolve with such unexpected twists and turns. The recent surge in Solana's activity, driven by the TRUMP memecoin, is a testament to the unpredictable nature of the market. The fact that this single token could generate such significant fees and trading volume highlights the power of celebrity influence and the speculative nature of memecoins.
However, as always, it's crucial for investors to approach such opportunities with caution. Memecoins are notoriously volatile and can lead to substantial losses just as quickly as they can generate gains. The involvement of high-profile figures like Donald Trump and Melania Trump adds an extra layer of intrigue, but it also underscores the need for thorough research and due diligence.
The potential shift of Solana's operations back to the U.S. could have broader implications for the cryptocurrency industry, especially if it aligns with Trump's vision of making the U.S. a leader in crypto development. This could spur further innovation and regulatory clarity, which would be beneficial for the entire ecosystem.
What are your thoughts on this development? Do you see this as a positive move for Solana and the broader crypto market, or do you have concerns about the risks involved? Let's discuss in the comments!
My thoughts on the topic are in the article, thanks for popping passed
yw I am learning solana development，but i dont like TRUMP meme