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The market capitalization of memecoins on Solana exceeded $10 billion.
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Among the many hottest are Dogwifhat, Bonk and PopCat.
Immediately, October 12, 2024, the market capitalization of the memecoins of the Solana ecosystem exceeded 10.2 billion {dollars}. This capitalization was $2 billion under the market capitalization of ADA, Cardano’s native cryptocurrency and one of the widespread within the cryptocurrency ecosystem.
A 3rd of the determine accrued by these tokens primarily based on pets, public figures or Solana web memes occurred over the past 24 hours, with nearly 2.3 billion {dollars}.
That’s to say that, doing slightly arithmetic, this statistic of the memecoins of Solana must improve solely 8.69 occasions that determine from the final 24 hours to complete surpassing ADA.
Memecoins hold Solana standing
It may be famous that the market capitalization of the currencies meme Solana was $1.5 billion behind AVAX, the native utility cryptocurrency of the Avalanche community.
Whereas it’s true that the entire worth of a community, like Cardano’s, shouldn’t be utterly given by the market capitalization of its token native, this reference can be utilized to grasp the rising person curiosity in memecoins from Solana.
Among the many memecoins most traded, and reviewing the statistics on CoinMarketCap, 4 tokens They accumulate greater than 7 million {dollars} in market capitalization. These are Dogwifhat (WIF), The Graph (GRT), Bonk (Bonk), and PopCat (POPCAT).
In flip, POPCAT introduced a rise in its worth of just about 16% within the final 24 hours, which may very well be one of many fundamentals behind the two,000 million {dollars} accrued within the final day by the entire of the meme.
Moreover, the token WIF within the final seven days grew by 20%, boosting this determine.
Whereas most narratives and metrics on Solana appear muted, during the last seven days person interactions with the Solana ecosystem memecoins on this community it elevated by 16%, as reported by CriptoNoticias.
On this manner, the Solana ecosystem is being strongly promoted by way of memecoinscreated largely throughout the Pump.enjoyable platform. Other than the truth that the mixed market capitalization of those memes helps to grasp their financial place throughout the cryptocurrency ecosystem, their usefulness is much from equal to the cryptocurrencies of huge networks equivalent to Cardano or AVAX.
