Solana’s Showstopper: The TRUMP Token Mania that Exploded Fees to $35 Million!
Solana's Block Party: How TRUMP Memecoin Sent Fees Skyrocketing to $35 Million!
Hello crypto enthusiasts and memecoin maestros! đ
Ladies and gentlemen, gather around! In the world of blockchain magic and memecoin mayhem, this weekend was a headliner act with Solana doing its best rockstar impression. Yes, you heard it here first: Solana just achieved legendary status, bagging a record $35 million in daily fees. No, it didnât find buried treasure â it was thanks to the debut of the TRUMP token, straight outta the Solana blockchain!
TRUMP Token: Making Transactions Great Again?
So, whatâs the buzz about? Imagine this: it's a Saturday. Donald Trump, former real estate mogul and U.S. President, has just rolled out his token on Solana. And just like that, the memecoin frenzy went interstellar. Trading volumes spiked higher than a caffeine-fueled Wall Street trader during a bull run! Between Saturday and Sunday, fees exceeded $35 million, with revenues crossing the $14 million mark.
Whatâs even crazier? Over 6 million active addresses were involved, each one probably wondering if holding a TRUMP token also comes with free Wi-Fi at Mar-a-Lago.
A Walk Down the Crypto-Crazy Lane
Remember back in November when Solana racked up nearly $14 million in fees because everyone was cozying up with AI Agent tokens? Well, TRUMP said âhold my golf clubsâ and doubled that at the speed of a midnight tweetstorm.
These towering fees are usually unheard of for Solana, known for its cost-effective processing â typically fractions of a cent. But hey, Trump knows a thing or two about making headlines and breaking the norm.
Our good old SOL tokens were no wallflowers either. With trading volumes hitting $26 billion in a mere 24 hours, SOL saw gains that would make even the most optimistic Bitcoin paramount supporter sit up and take notice. Solanaâs prices have surged nearly 3,000% since that bleak December 2022 when the FTX implosion had crypto fans clutching their cold wallets in despair.
Melaniaâs Turn: A Memecoin Plot Twist
In true reality TV fashion, Melania Trump stepped into the crypto spotlight late Sunday, launching her own memecoin. This Oprah-style âYou get a coin, you get a coin!â moment briefly puurashed the TRUMP token down nearly 50%! Solana, not to be outdone, valiantly processed 8 million transactions per minute â talk about giving your neighbors something to talk about!
Even the resident network apps, like Jito and Phantom, had to stop for a breather when Asian traders said, âKonnichiwa!â with their hefty transaction requests.
Phantom and its fellow ecosystem apps quickly got the groove back, handling over $1.25 billion in swap volume in a single day. Who needs caffeine when you have adrenaline-packed crypto weekends like this, right?
The Last Word
Shaurya Malwa, crypto sensei and tip-top co-leader over at CoinDesk, keeps an eye on this swirling crypto tornado with the air of someone who knows that profits, like politics, can get deliciously unpredictable. With investments spanning the galaxy of crypto and a social media presence you need on your feed, trust him to have the latest scoop before even your morning brew finishes brewing.
Got an appetite for the next big crypto buzz? Stick around as we promise to balance your news diet with equal helpings of facts and fun!
And don't forget, whether you're holding a TRUMP token or just holding on for dear life, keep smiling and hodling! đ
Stay tuned, stay interested, and stay amused!
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