Ethereum

Solana

Memecoin

DeFi

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Solana’s recent price surge is linked to memecoin trading activity on its network.</li>
 <li>Ether’s implied volatility is expected to outpace bitcoin’s due to anticipated price fluctuations.</li>
</ul>
<p>The ongoing price rally of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Solana</a> SOL is largely attributed to the memecoin trading activity on its platform. Tristan Frizza, the founder of a decentralized exchange, claims that the increase in Solana’s value is primarily driven by a surge in the network’s memecoin trading activity.</p>
<h2 id="memecoin-trading-fuels-solana-s-growth">Memecoin Trading Fuels Solana’s Growth</h2>
<p>Frizza stated that memecoins have become a significant driver of activity on Solana. This not only demonstrates Solana’s ability to handle high transaction volumes with low fees but also makes it an ideal environment for retail users.</p>
<p>He further pointed to on-chain metrics such as Solana’s total value locked (TVL) which has surpassed $4.9 billion, indicating robust network activity. Additionally, the number of active users has been consistently growing, with monthly active addresses hitting a new all-time high of 41.65 million in May.</p>
<p>Solana has seen a growth of over 5% in the past 24 hours and is currently trading at $174.83.</p>
<h2 id="solana-s-defi-ecosystem-grows">Solana’s DeFi Ecosystem Grows</h2>
<p>A recent report reveals that Solana’s DeFi ecosystem is experiencing growth in its lending, liquid staking, and perpetual markets. The resurgence in Solana is attributed to the advantages it offers over other blockchains in terms of transactions per second throughput and scalability.</p>
<p>While both Solana and <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> continue to grow, the rise in Solana is remarkable. Despite being four places behind Ethereum by TVL, Solana is second in terms of decentralized exchange volumes by chain, as more users find utility in its blockchain.</p>
<h2 id="ether-s-implied-volatility-surpasses-bitcoin-s">Ether’s Implied Volatility Surpasses Bitcoin’s</h2>
<p>In the cryptocurrency market cap rankings, ether is expected to experience larger price fluctuations this month compared to <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">bitcoin</a>. Analysts predict that ether’s implied volatility is currently higher than that of bitcoin, suggesting that traders anticipate increased price fluctuations for ether, possibly in response to the upcoming launch of spot ether exchange-traded funds (ETFs).</p>
<p>Andrew Melville, Head of Research, observed that ether’s price fluctuations have become more significant since mid-May than bitcoin’s. This represents the largest disparity in volatility between both tokens since November 2022.</p>
<p>The increased premium assigned to volatility reflects increased uncertainty, particularly in the short term, with potential updates to ether ETF applications looming. However, the market sentiment appears cautiously optimistic, with similar short-term positioning between both ether and bitcoin.</p>

Solana Skyrockets Further With Memecoin Surge and DeFi; Ether Broadens Gap in Volatility Against Bitcoin

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