Transaction charges on Solana (SOL) surpassed $11 million on October 24, marking a brand new all-time excessive, in line with Blockworks Analysis information.
The metric is named “actual financial worth” (REV), which incorporates transaction charges and MEV ideas for validators.
Solana has dominated day by day buying and selling volumes within the decentralized finance (DeFi) ecosystem for 13 consecutive days, in line with at DefiLlama.
In the meantime, the community's decentralized exchanges recorded a buying and selling quantity of over $2.6 billion on October 24.
AI memecoins lead progress
Notably, this REV spike and vital buying and selling quantity comes amid the frenzy sparked by the intersection between synthetic intelligence (AI) and memecoins.
The AI agent's reality terminal stimulated this new on-chain enterprise “meta”, as his posts a few “Goatse Gospel” motivated the creation of the memecoin Goatseus Maximus (GOAT). GOAT at present has a market cap of $650 million and has moved virtually $450 million on-chain within the final 24 hours.
Due to this fact, a big wave of AI-related tokens has overtaken Solana. Memecoin-focused Pump.enjoyable launchpad hit an all-time excessive of 36,339 tokens deployed on October 24, as revealed by Hashed's dashboard on Dune Analytics.
The entire deployed on Pump.enjoyable represented over 84% of the 43,166 new tokens issued yesterday on Solana, which can be a new file.
Moreover, tokens launched by Pump.enjoyable took the lead in weekly buying and selling volumes on Solana for the primary time, with roughly $8.7 billion transferred final week, base on information from Blockworks Analysis.
Because of these components, one other key milestone was crossed on October 24, with Pump.enjoyable surpassing 1 million SOL in income simply 9 months after its launch.
