Solana’s complete worth locked (TVL) has surged to $6.4 billion, marking its highest stage since January 6, 2022, in accordance with information from DeFiLlama.
By way of day by day decentralized alternate (DEX) quantity, the blockchain has surpassed Ethereum and different main networks. Its DEX quantity has exceeded $2 billion over the previous 24 hours whereas Ethereum’s has reached over $1.4 billion.
A key contributor to this TVL surge is Raydium, the established DEX in Solana. Knowledge exhibits that Raydium TVL hit $1.6 billion on October 22, the best stage since December 2021. It’s presently the second-largest protocol on the Solana ecosystem.
The surge in Raydium TVL comes at a time when Pump.Enjoyable, a Solana-based token issuer, has more and more gained traction. The platform’s ease of use and low barrier to entry, permitting customers to create tokens for lower than $2, have made it a preferred selection for these seeking to create their very own tokens, particularly memecoin creators. When a token launched on Pump.Enjoyable reaches a market cap of $69,000, a portion of its liquidity is mechanically added to Raydium.
Knowledge from Dune Analytics exhibits that Pump.Enjoyable is approaching 1 million SOL in lifetime charges whereas the variety of tokens launched since its March debut has surpassed 2.5 million.
Pump.Enjoyable additionally noticed a spike in exercise with 5,550 addresses issuing 7,500 tokens in simply the final 24 hours. The height was pushed by a renewed curiosity in AI-themed memecoins, just like the current pleasure surrounding the GOAT memecoin craze, which has captured consideration within the crypto market as a consequence of its distinctive backstory and viral attraction.
Whereas additionally out there on the Base and Blast networks, Pump.Enjoyable’s main utilization is on Solana, the place it has generated $147 million in income since its inception. The platform has lately launched an upgraded buying and selling terminal referred to as Pump Advance, which options enhanced functionalities for customers, together with mini-charts and social indicators. As an introductory provide, Pump Advance customers can take pleasure in 0% charges for his or her first month.
