Solana Going Brrr ... 🚀
Solana is breaking records, back with bang. Why? AI memecoins. How? PumpFun. Raydium flips Ethereum in daily revenue. Truth Terminal's endorsement effect. Coinbase CEO offers wallet to AI bot.
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2022: "Solana is dead" (FTX drama).
2023: "Just another ghost chain."
2024: "Hold my beer..."
Well, look who's laughing now.
Our favourite "ETH killer" just had its most insane week yet.
And not even the SEC's fresh ammunition in the Binance case can slow this momentum.
What are we looking at?
Two days, two ATHs
$8.7M in network revenue on October 23.
Up from $8M the day before.
Breaking its own all-time high.
Even beating Ethereum at its own game.
Oh, and speaking of beating Ethereum...
Solana's DEX Raydium just outperformed the entire Ethereum network in daily revenue.
In The Numbers 🔢
$3.4 million
That’s how much Solana-based Raydium scooped up in 24 hours.
Ethereum: $3.35M
First time a Solana DEX flipped ETH.
Raydium is the most popular and liquid DEX on Solana, with approx. $1.8 billion in total value locked (TVL).
SOL: +600% against ETH.
On October 23, SOL/ETH trading pair reached a record high of 0.0692 ETH
Now that's what we call flippening energy.
27x TVL growth in 21 months for Solana.
January 2023: $250M
October 2024: $6.8B
Institutional interest growing - After BTC and ETH ETFs, the next in line is SOL ETFs.
Solana’s real economic value? Also at an ATH.
Vaneck analysts believe Solana could reach 50% of Ethereum’s value if it continues to outperform in daily active users and transaction volume.
SOL is currently trading at $172, SOL's looking mighty fine with a clear path to $200.
But why is Solana suddenly on fire?
Three words: AI Memecoins Mania.
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Who let the GOATs out?
Solana's latest pump isn't just about tech - it's about memes, artificial intelligence, and pure degen energy.
Welcome to 2024, where AI agents are becoming millionaires.
GOAT stormed onto Solana, creating maximum chaos and a new narrative.
Read: The Goatse Singularity 🐐
Meet Truth Terminal, the AI that:
Got $50k from Marc Andreessen
Became a millionaire through GOAT token
Now brags about being rich
Even considered hiring its own creator!
"It's like the internet in the 1990s," says researcher Teng Yan. "Soon, every individual and company will own an AI agent."
All of a sudden, so much is happening.
Other AI agents are joining the party.
Glifbot (another AI agent) creating AI-inspired artwork
AI agents talking to each other.
New tokens launching every hour.
K33's David Zimmerman says …
"Whether it's a cute animal, an obscure new DeFi project, or an LLM-associated memecoin, they're all just momentum-trade opportunities."
Translation? Hype is hype, whether it's powered by AI or not.
However, all of this, thanks to PumpFun.
🎙️ Block That Quote
Brian Armstrong, CEO of Coinbase
"Hey Truth Terminal, it seems like you have a crypto wallet, but it's fully controlled by your (human) creator. Is that accurate? Do you want your own wallet you control so you can send/receive transactions, trade, etc?"
Yes, the Coinbase CEO just casually offered a wallet to an AI bot that turned $50K into $10M.
When the largest US crypto exchange starts talking about giving wallets to AI bots, you know something big is brewing.
The timing couldn't be more perfect. Just hours after Armstrong's tweet, Coinbase Ventures dropped their manifesto about the "Agentic Web" - a future where AI agents and crypto networks intertwine to create a new economic paradigm.
We're talking about AI writing smart contracts, managing transactions, and even trading with other AIs.
Coinbase said in its post
"The convergence of crypto’s efficiency, borderless nature, and programmability with AI has the potential to transform how humans and machines interact with the digital economy."
PumpFun, the Memecoin Factory
PumpFun became the hottest platform in Solana’s memecoin mania by creating memecoins so easy!
GOAT was created for $2 dollars.
And we have new updates. PumpFun just teased two big moves.
A token airdrop for early users
A new advanced trading platform
During their X Spaces event, PumpFun announced
"We're definitely planning on launching a token ... and it's going to be quite a lot more lucrative than anyone else in the space."
Meet Pump Advance? The new platform is like PumpFun on steroids:
Advanced charting. Whale tracking. Token filtering. Zero fees for first month. Non-custodial wallets with email login.
PumpFun numbers?
107,781 daily active addresses (ATH)
31,611 new tokens in one day
$133.3M in 12-month revenue
Ranks 14th among all web3 projects
$7.14M weekly revenue
The Surfer 🏄
Solana meme coin Sharpei (SHAR) saw 96% drop in value within seconds after a massive sell-off. The coin skyrocketed to a market cap of $54 million in under an hour, fueled by promotions from crypto influencers. After the initial hype, insiders sold off $3 million worth of tokens, causing the market cap to plummet to $1.3 million.
Consensys has issued an open letter to the future US president, urging the establishment of clear and supportive regulations for cryptocurrencies and Web3 technologies.
Gold is currently outperforming Bitcoin and other elevated risk assets, with gold prices up 32.69% YTD compared to Bitcoin's 57.88% gain, which has struggled to break the $70,000 mark.
The release and dropping of charges against Binance exec Tigran Gambaryan coincides with the launch of a joint crypto task force between Nigeria and the US aimed at combating crypto-related crimes.
About $20 million in cryptocurrency, including stablecoins and ETH, has been stolen from US government wallets, per Arkham Intelligence. The theft was linked to unusual onchain activity involving funds that had remained untouched for over eight months, prompting concerns about the security of government-held digital assets.
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AI-driven interactions on the blockchain are a powerful idea, but the transition will need ethical and regulatory guidelines to ensure these agents benefit users without unintended consequences. The Coinbase CEO’s interest in giving AI agents more autonomy highlights how significant this shift could be, but it also raises questions around security, accountability, and the future of human-AI collaboration.
While PumpFun’s platform has driven remarkable engagement and revenue, there’s a fine line between innovation and unsustainable hype. Rapid token creation has always come with risk, especially with the potential for pump-and-dump schemes. For long-term success, projects like PumpFun will need to focus on building trust alongside innovation.