The Solana ecosystem is setting new records for total value locked (TVL) and volumes on its decentralized exchanges (DEX), fueled by the memecoin frenzy.
In recent weeks, the Solana blockchain has seen its staked value grow exponentially, recently setting a new record above $12.100 billion, according to data from DeFiLlama.
This new milestone for the network has been largely driven by the frenzy around memecoins, especially the one launched by US President TRUMP. This meme coin has managed to capture the attention of investors and traders alike in recent days, attracting significant volume to the Solana blockchain and its decentralized exchanges.
The growth that has driven the trading of this memecoin not only reflects the growing adoption of the Solana network, but also how meme coins can become catalysts for activity in the crypto world.
The Rise of TRUMP: A memecoin that powers Solana
The TRUMP memecoin, launched by US President Donald Trump just days before taking office, has been the center of attention in the Solana ecosystem. This cryptocurrency has seen meteoric growth, reaching a market cap of over $18.000 billion in just two days. However, while TRUMP’s market valuation remains close to $8.000 billion at the time of writing, its popularity has attracted significant trading volumes to Solana, fueled by Donald Trump’s political and viral nature.
Additionally, unlike other memecoins that have emerged on blockchains like Ethereum, TRUMP has managed to capitalize on Solana’s speed and scalability. This has allowed thousands of users to participate in its buying and selling without facing the high fees typically associated with other blockchain networks.
TRUMP’s success is a reflection of how memecoins can drive mass adoption of a blockchain. In this case, Solana has been the big winner, as its infrastructure has been able to handle the surge in transactions without significant issues.
Solana breaks records: TVL and volumes on DEX skyrocket
TRUMP’s impact on the Solana ecosystem has translated into impressive numbers on the blockchain. According to data from DeFi Llama, the total value locked (TVL) on the network has surpassed $12.100 billion, an increase of 37% in just one week. According to the data, this growth has been driven by activity on DeFi platforms such as Raydium, Orca, and Jupiter, which have seen a significant increase in the number of users and transactions.
Source: DeFi Llama
Volumes on Solana DEXs have also reached new highs. On January 17, daily on-chain volume surpassed $ 35.800 million dollars, which represented a 100% increase from the previous day. This growth was led by TRUMP trading, which accounted for a large portion of the total trading volume on some Solana platforms.
Jito and Raydium with profits of $190 million
This record not only represents a significant technical breakthrough for Solana, but also reflects growing investor confidence in the network. Its ability to handle high transaction volumes with low fees and fast confirmation times has strengthened its position, as well as that of its protocols, among the most efficient on the market.
According to data from DeFi Llama, since the launch of TRUMP to date, Jito and Raydium have generated a total of $190 million in commission fees.
In particular, Jito has accumulated $82 million USD, with January 20th standing out as the day with the highest fee revenue, reaching $26,41 million USD. On the other hand, Raydium has surpassed $108 million USD in fees, with January 19th and 20th marking its highest peaks.
Source: DeFi Llama
Why Solana is the perfect home for memecoins?
The Solana blockchain has proven to be the ideal environment for the rise of memecoins thanks to several key features. First, its scalability allows it to handle thousands of transactions per second, which is essential for projects that attract large communities. Second, extremely low fees make it accessible to users around the world, even those on limited budgets.
In addition, Solana has a robust and ever-growing DeFi infrastructure. Platforms like Raydium and Orca offer advanced trading and liquidity tools, making it easier to trade new memecoins.
Another important factor is the Solana community, known for its enthusiasm and support for innovative projects. This combination of technology and community has created a vibrant ecosystem where memecoins like TRUMP can thrive.
So while Solana’s growth isn’t limited to memecoins alone, as the network is attracting more serious projects in areas such as decentralized finance (DeFi), blockchain gaming, and non-fungible tokens (NFTs), the success of TRUMP and Solana’s record-breaking TVL are further proof of the blockchain’s ability to innovate and adapt to market demands and viral trends.
Solana currently processes over 4.500 transactions per second according to its website, has processed over 363.210 billion transactions and has over 29,7 million active accounts. This is not only a technical achievement, but also a sign that mass adoption could be driven by scalable blockchains.
