The success of Solana memecoins has fueled an unprecedented wave of token launches, driving multiple on-chain metrics to all-time highs.
SOL Hits $200 with Historic Market Cap
SOL surged to $205.4 on March 18, marking its highest price since December 2021. Its market capitalization reached $90.6 billion, setting a new record.
👉 Track SOL price trends on OKX
Solana's Token Launch Frenzy
The meteoric rise of memecoin Book of Meme (BOME) has intensified Solana's token launch craze. Anonymous artist Kero recently crowdsourced 55,000 SOL (~$11M) within 24 hours for an unspecified "junk coin," sparking debates about presale ethics.
Community Reaction:
"Random Twitter guy raised $32M in 2024 — more than SOL, BNB, or ETH during their ICOs."
— @3orovik (source)
Record-Breaking On-Chain Activity
- Weekly Volume: Hit $3.79B (March 15), surpassing previous highs (The Block).
- Daily Transactions: Briefly exceeded Ethereum's.
- Active Addresses: 1.2M on March 16 (highest since June 2022).
- New Wallets: 870K created on March 16 (7-day average).
Network Fees Skyrocket
Solana's daily fees peaked at $3.83M (20,350 SOL) on March 16, reflecting heightened demand.
👉 Explore Solana's technical advancements
FAQ Section
Q: Why is Solana's activity surging?
A: Memecoin mania (e.g., BOME) and low-cost token launches are driving unprecedented engagement.
Q: Are Solana's high fees sustainable?
A: Fees correlate with demand; upgrades like Firedancer aim to improve scalability long-term.
Q: What risks should investors consider?
A: Volatility, speculative token launches, and network congestion pose short-term challenges.
Risk Disclosure: Cryptocurrency investments carry high risk. Prices may fluctuate drastically, potentially resulting in total capital loss. Assess risks carefully.
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