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- 🟣 Solana takes center stage
🟣 Solana takes center stage
Memecoin mania continues, pumping SOL fees
Solana’s fee revenue has doubled in recent days as the latest meme du jour has ramped up trading volumes big time.
First BOME, or Book of Meme, had a 6,000% run, followed by a 60% crash.
Today, a drooling sloth-themed token SLERF provided the pump and dump spectacle — up 4000%, crashed -75%, then back up 50% (for now).
The latest crop of memes engaged in a “presale” where SOL was solicited via X before the token was even launched, a dubious proposition reminiscent of the 2017-2018 ICO bubble.
In SLERF’s case, there’s a bizarre twist: $10 million in SOL sent in expectation of SLERF tokens to return was accidentally burned, the creator claims.
That didn’t discourage the degens from aping into the token — probably the reverse — which just hit $2 billion in trading volume today alone.
People whose presale funds were zeroed out threw still more into the meme, in an attempt to make it all back. Some did. Others undoubtedly won’t.
“I’m playing the game,” a woman said on an X space that attracted more than ten thousand listeners.
“You made money, other people lost — good job — what do you want a cookie?” retorted another.
Some 25,000 addresses reportedly participated in the presale, but the massive blunder (whether an honest mistake or staged) is being spun as a kind of immaculate meme conception.
Listening to the most vocal cadre of gamblers on multiple X spaces today, it's a discouraging reminder of the grotesque, self-destructive underbelly of an industry still struggling to be taken seriously.
Alliance’s Imran Khan predicts crypto memes will be a significant cultural source in the future. If so, and if this is anything to go by, we’re in big trouble.
The blobs arrive:
Source: ethpandaops.io
New data showing the propagation time of blobs post-Dencun, reveals an average arrival time of less than 2.5 seconds. The 95th percentile is at 4 seconds.
Ethereum has a limit on the time allowed for attestations, so lower is better, but this is still in an acceptable range.
Although Ondo Finance has experienced growth stagnation over the past few months, they remain a significant player in the tokenized security space, with their recent multichain expansion and their dive into broader tokenized assets through Ondo GM potentially revitalizing growth.
A renewed emphasis on the COW token's value accrual makes it look like a value play on MEV-aware infrastructure and swaps.
The company unveiled its research platform upgrades during the first day of Blockworks’ Digital Asset Summit in London.
Assets under management in global crypto ETPs broke the $100 billion mark for the first time amid BTC price increases and persistent inflows
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The insights, views and outlooks presented in the report are not to be taken as financial advice. Blockworks Research analysts are not registered broker/dealers or financial advisors. Blockworks Research analysts may hold assets mentioned in this report, further outlined in the Firm’s Financial Disclosures.
