SOL Crosses $200 as Meme Coin Frenzy Bumps Demand for Solana Network
Scores of newly issued tokens boast trading volumes of tens of millions, showcasing network usage and demand for blockspace.
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Scores of newly issued tokens boast trading volumes of tens of millions, showcasing network usage and demand for blockspace.
The CoinDesk 20, a broad-based index of the most liquid crypto tokens, was down 8.25%.
Outflows from gold exchange-traded funds and a surge in bitcoin ETF inflows fueled speculation investors were shifting from the precious metal into the cryptocurrency.
The platform lets users start their own networks on Bitcoin and is offering developers millions of dollars as grant rewards.
The Foundation first said in December it would invest in meme coin as part of a digital culture drive.
The strongest sector growth this year has emerged from non-serious tokens, and the rally shows no signs of stopping.
The American stockbroker has repeatedly called bitcoin a “bubble” and said he still doesn’t believe in its long-term future.
The platform is adding four features designed to make trading faster, cheaper and more customized.
Bitcoin ETF inflows could lead to a “sell-side” crisis in the coming months, one market observer said.
President Nayib Bukele said in an X post that the Central American nation is earning bitcoin revenue from four different avenues.