Ethereum

Token

Solana

BOOK OF MEME

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/meme-token-craze-boosts-solanas-network-activity/" data-wpel-link="internal">Meme Token Craze Boosts Solana’s Network Activity</a><br></p>
<p style="text-align: justify">The meme token frenzy continues to draw numerous individual investors to <strong>Solana (<a href="https://en.coin-turk.com/solanas-remarkable-comeback-overtaking-bnb-and-surprising-analyst-comments/" data-wpel-link="internal">SOL</a>)</strong>, leading to a significant increase in transactions and consequently in fee revenues. According to an analysis of Token Terminal data, the smart contract network collected $20.14 million in fees over the week. This figure was the second-highest fee after <a href="https://coin-turk.com/ethereumda-neler-oluyor-ayrintili-grafik-analizi-ve-destek-direnc-seviyeleri" data-wpel-link="internal">Ethereum</a> (<a href="https://en.coin-turk.com/ethereums-potential-surge-to-10000-insights-from-a-crypto-trader/" data-wpel-link="internal">ETH</a>).</p> 
<h2 id="solana-s-meme-token-boost">Solana’s Meme Token Boost</h2> 
<p style="text-align: justify">The announced number also represents the highest weekly fees for <strong>Solana</strong> to date, corresponding to a 10.75% market share. Additionally, Solana’s daily market share consistently rose from 9% to over 12% throughout the week.</p> 
<p style="text-align: justify"><strong><a href="https://coin-turk.com/kripto-paralara-kurumsal-kabul-icin-gerekenler-ethereum-karsiladi-mi" data-wpel-link="internal">Cryptocurrency</a></strong> analyst David Alexander II characterized this as a significant shift in network fee capture, considering that historically, Solana accounted for less than 1% of daily total fees. The comeback spurred by new meme token launches is testing the network’s limits. Individual investors known for their interest in such <strong>tokens</strong> have been flocking to Solana in pursuit of SLERF (SLERF), BOOK OF MEME (BOME), and many other tokens.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-332484 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/sol-1.jpg" alt="" width="1012" height="588"></p> 
<h2 id="solana-s-analytical-reports">Solana’s Analytical Reports</h2> 
<p style="text-align: justify">The number of daily active users followed a parabolic trajectory throughout the week, recording the highest number to date of 2.1 million on March 17th. The meme token craze led to increased activity on Solana-based decentralized exchanges (<a href="https://coin-turk.com/solana-aginda-bedava-para-dagitilacak-surpriz-airdrop-duyurusu" data-wpel-link="internal">DEX</a>). According to DeFiLlama analyses, Solana DEXs surpassed <a href="https://en.coin-turk.com/ethereum-stands-out-in-the-crypto-market/" data-wpel-link="internal">Ethereum</a> in total weekly volumes.</p> 
<p style="text-align: justify">Moreover, this situation also helped the network attract more liquidity, with the total value locked (TVL) surpassing $8 billion for the first time since January 2021. According to CoinMarketCap data, the fifth-largest <strong>cryptocurrency</strong> exceeded $200 for the first time since December 2021 this week. However, subsequent profit-taking pulled <strong>SOL</strong> down, and the token was trading at $174 at the time of writing.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/meme-token-craze-boosts-solanas-network-activity/" data-wpel-link="internal">Meme Token Craze Boosts Solana’s Network Activity</a></h5>

Meme Token Craze Boosts Solana’s Network Activity

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