Transaction-related charges on Solana (SOL) surpassed $11 million on Oct. 24, marking a brand new all-time excessive, in response to Blockworks Analysis information.
The metric known as “actual financial worth” (REV), which incorporates transaction charges and MEV suggestions for validators.
Solana has been dominating every day buying and selling volumes within the decentralized finance (DeFi) ecosystem for 13 days straight, in accordance to DefiLlama.
In the meantime, the community’s decentralized exchanges registered over $2.6 billion in buying and selling quantity on Oct. 24.
AI memecoins lead progress
Notably, this peak in REV and the numerous buying and selling quantity come amid the frenzy sparked by the intersection between synthetic intelligence (AI) and memecoins.
The AI agent Fact Terminal spurred this new on-chain buying and selling “meta,” as its publications a couple of “Goatse Gospel” motivated the inception of the memecoin Goatseus Maximus (GOAT). GOAT at present has $650 million in market cap and has moved practically $450 million on-chain previously 24 hours.
Consequently, a giant wave of AI-related tokens overtook Solana. Memecoin-focused launchpad Pump.enjoyable reached an all-time excessive of 36,339 deployed tokens on Oct. 24, as revealed by Hashed’s dashboard on Dune Analytics.
The whole deployed on Pump.enjoyable represented over 84% of all 43,166 new tokens issued on Solana yesterday, which can be a new document.
Furthermore, Pump.fun-launched tokens took the lead in weekly buying and selling volumes on Solana for the primary time, with roughly $8.7 billion moved final week, based mostly on Blockworks Analysis information.
Because of these components, one other key threshold was breached on Oct. 24, with Pump.enjoyable surpassing 1 million SOL in income simply 9 months after its launch.