Solana-based DApps rake in record fees as memecoin frenzy returns

November 18, 2024 Coin Telegraph

Five of the top 10 crypto protocols by fee earnings in the last 24 hours were on Solana.

Solana-based decentralized finance applications (DApps) notched record fees and revenue activity in the last 24 hours amid an apparent return of memecoin mania.

According to a Nov. 18 X post from decentralized finance (DeFi) commentator Patrick Scott, who cited DefiLlama data, five of the top 10 protocols by fees in the last 24 hours were on Solana.

Five of the top 10 protocols by fees were on Solana on Nov. 17. Source: DefiLlama

Hex Founder Richard Heart Included in Europol’s Most Wanted List

Viral squirrel ‘Peanut’ triggers Solana memecoin frenzy

November 3, 2024 Coin Telegraph

BNB Smart Chain

Following the controversial death of Peanut the Squirrel, memecoins themed after Peanut have surged on Solana, with some hitting market caps of more than $100 million.

Memecoins, riding the sudden rise in popularity of “Peanut the Squirrel,” has hit the Solana decentralized finance (DeFi) markets, with some tokens even reaching a market capitalization above $120 million.

Mark Longo, the owner of Peanut’s social media account with over 600,000, wrote that on Oct. 30, New York’s Department of Environmental Conservation confiscated and euthanized the popular squirrel and a raccoon named “Fred.” This follows complaints of alleged unsafe housing for Peanut. Longo wrote on Instagram:

Longo said he first rescued the squirrel about seven years ago after seeing Peanut’s mother get hit by a car. Because of an injury, Longo deemed that Peanut couldn’t survive in the wild. Because of this, Peanut nursed him back to health and became his caretaker.

Hex Founder Richard Heart Included in Europol’s Most Wanted List

Pepe hits all-time high, memecoins soar after famous GameStop stock trader ‘returns’

May 13, 2024 Coin Telegraph

Coin Telegraph

Memecoins rally, and PEPE hits a new all-time high shortly after GameStop stock trader Keith Gill posts to his Roaring Kitty X account for the first time in 3 years.

Pepe (PEPE) price topped the $0.000010 level for the first time since March 15. Data from Cointelegraph Markets Pro, and TradingView shows that PEPE rallied 34% over the past 24 hours to set a new record high of $0.00001119 on Binance.

PEPE’s trading volume has jumped 245% over the last 24 hours to $1.56 billion and its market capitalization has also jumped to $4.31 billion, surpassing that of Ethereum Classic (ETC) to become the 23rd largest cryptocurrency by market value.

PEPE’s performance follows the return of “Roaring Kitty” – Keith Gill’s account on the social media platform X – which has been dormant since June 2021.

Hex Founder Richard Heart Included in Europol’s Most Wanted List

Fantom bets on ‘safer memecoins’ with launch of $6.5M dev fund

May 1, 2024 Coin Telegraph

Fantom bets on ‘safer memecoins’ with launch of .5M dev fund

base memecoins

Fantom Foundation CEO Michael Kong hopes the blockchain can “replicate the success” of its peers by getting in on the memecoin hype.

Layer-1 blockchain Fantom is pushing the idea of “safer memecoins” by setting aside $6.5 million worth of its native FTM (FTM) token as a reward to devs as it tries to get a slice of the nearly $50 billion sector.

Fantom Foundation CEO Michael Kong told Cointelegraph he wants to create "an environment where people can launch what we call ‘safer memecoins’” and introduce technical and non-technical measures to ensure projects aren’t “just an outright rug or scam.”

Solana and Coinbase’s Ethereum layer 2 Base have seen the bulk of the recent memecoin trading craze with trading volumes on Solana even surpassing Ethereum’s at the peak of the memecoin rush in March.

Hex Founder Richard Heart Included in Europol’s Most Wanted List

12 Solana presale memecoins abandoned after just a month

April 22, 2024 Coin Telegraph

Coin Telegraph

The 12 now-defunct projects raised a total of $26.7 million by way of a controversial fundraising method known as a presale.

At least 12 Solana presale memecoins have been “completely abandoned” in the last 30 days after raising a combined $26.7 million from investors, according to figures shared by independent blockchain sleuth ZachXBT.

In an April 21 post to X, ZachXBT highlighted 12 Solana memecoin projects that raised funds through the controversial presale method, many of which have plunged significantly since launching and one which appears not to have launched any token at all.

According to ZachXBT, the most costly “abandoned” presale project was a memecoin dubbed “I like this coin,” which sported the ticker LIKE.

solana memecoins