Main Insights
- Solana has achieved its highest total value locked (TVL) since January 2022, reaching $6.4 billion.
- The decentralized exchange (DEX) volume on Solana has surpassed $2 billion within a 24-hour period.
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Solana’s total value locked (TVL) has surged to $6.4 billion, marking a peak not seen since January 6, 2022, according to DeFiLlama.
Solana has outpaced Ethereum and other major networks in daily decentralized exchange (DEX) volume, surpassing $2 billion in the last 24 hours while Ethereum managed over $1.4 billion.
This spike in TVL coincides with the rising recognition of Pump.Fun, a token issuer on Solana. Its user-friendly platform allows users to create tokens for under $2, gaining traction among those interested in launching their own tokens, particularly memecoins.
Data from Dune Analytics indicates that Pump.Fun is nearing 1 million SOL in lifetime fees, with over 2.5 million tokens launched since its introduction in March.
Recently, Pump.Fun experienced a surge in activity with 5,550 addresses generating 7,500 tokens in just 24 hours. This uptick is linked to a renewed interest in AI-themed memecoins, reminiscent of the excitement surrounding the recent GOAT memecoin phenomenon that captivated the crypto community with its unique narrative and viral nature.
While Pump.Fun operates on the Base and Blast networks, its primary focus remains on Solana, generating approximately $147 million in revenue since launch. This trend has fostered increased trading volumes and user engagement on the platform.
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