$26M Staked in Solana as Memecoin Soars 1,500%
The post $26M Staked in Solana as Memecoin Soars 1,500% appeared on BitcoinEthereumNews.com.
$26 million SOL staked, signaling investor confidence as price gains 12% in the past week. Firedancer upgrade targets 1 million transactions/second, boosting Solana’s capacity and reliability by 2025. Solana [SOL] has experienced a strong start in 2023, positioning itself as a major competitor to Ethereum [ETH]. Priced at $172.41 at the time of writing, Solana has recorded a 12.07% gain over the past week, despite a slight 0.51% decline in the last 24 hours. Solana’s market cap stands at $81 billion, supported by a 470 million SOL circulating supply. Source: TradingView In the last three days, a fresh wallet withdrew 150,011 SOL (worth $26.25 million) from Binance and staked it, per Lookonchain data. This large staking activity suggests increased confidence among investors and supports the ongoing bullish sentiment for SOL. Solana-Based memecoin rises 1,500% Meanwhilem a new Solana-based memecoin, Goatseus Maximus (GOAT), has seen a rapid rise, gaining nearly 1,500% in two weeks. This surge occurred even before it was officially listed on exchanges, indicating strong community interest. Trading at $0.6322, GOAT was consolidating its price at press time as it prepares for a potential rally. Crypto analyst Altcoin Sherpa noted that GOAT could be the leader of the Solana memecoin category, pointing out its strong initial performance. Memecoins have played a role in driving transaction volume and active addresses within the Solana ecosystem, contributing to recent growth metrics. DeFi activity and network metrics Solana’s DeFi sector remains active, with $6.69 billion in Total Value Locked (TVL), according to DeFiLlama data. While there was a 1.10% decrease in the last 24 hours, Solana maintains a robust presence in the DeFi space. Daily metrics show 4.11 million active addresses and 37.88 million transactions, reflecting strong user engagement. Source: DefiLlama Revenue figures for the past day include $4.55 million in fees and…
Filed under: News - @ October 26, 2024 5:02 am