A sharp uptick in Solana network activity and the blockbuster performance from memecoins back SOL’s rally toward $180.
Solana's native token, SOL (SOL), gained 12.1% from Oct. 11 to Oct. 18 and data suggests that the upward momentum was partially driven by demand for memecoins. Increasing demand translates to higher network volumes, fees, and total value locked (TVL).
Traders are now debating whether the memecoin craze is sustainable and how SOL's price can continue to benefit from the surge in network activity.
While there is no fundamental basis for the surging demand for memecoins, it is clear that influential social media accounts direct traders' attention to the tokens. Take this Oct. 12 post from pwnlord69 as an example.
We’re thrilled to announce that EIGEN is now available for trading on Kraken! Funding and trading Trading for EIGEN is live as of 04:00 AM UTC today, October 1, 2024. To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit’. Make sure to deposit your tokens […]
We’re thrilled to announce that SKY and USDS are now available for trading on Kraken! Funding and trading Trading for SKY and USDS will be live as of 16:00 PM UTC today, October 2, 2024. To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit’. Make […]
We’re thrilled to announce that GFI and POPCAT are now available for trading on Kraken. Additionally, we’ve expanded coverage so clients in Belgium, Canada, Ireland, Italy, The Netherlands, Spain, and the United States can now trade KUJI! Funding and trading Trading for GFI, KUJI, and POPCAT will be live as of 15:00 PM UTC today, […]
