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Key Takeaways
Solana’s TVL has reached its highest point since January 2022.
Solana’s 24-hour DEX volume has exceeded $2 billion.
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Solana’s total value locked (TVL) has surged to $6.4 billion, marking its highest level since January 6, 2022, according to data from DeFiLlama.
In terms of daily decentralized exchange (DEX) volume, the blockchain has surpassed Ethereum (
$2,633.50 ) and other major networks. Its DEX volume has exceeded $2 billion over the past 24 hours while Ethereum ( $2,633.50 ) ’s has reached over $1.4 billion.
The surge in TVL comes at a time when Pump.Fun, a Solana-based token issuer, has gained traction. Data from Dune Analytics shows that the platform is approaching 1 million SOL in lifetime fees while the number of tokens launched since its March debut has surpassed 2.5 million.
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In addition, the platform has also seen a significant spike in activity with 5,550 addresses issuing 7,500 tokens in just the last 24 hours. The peak was driven by a renewed interest in AI-themed memecoins, reminiscent of the GOAT craze.
Lookonchain reports that Pump.Fun’s creators have capitalized significantly, selling over $6 million worth of SOL recently, which adds to a total of over $78 million or 500,000 SOL in lifetime sales.
The platform allows users to create tokens for less than $2, selecting the token amount, theme, and meme image. When these tokens reach a market cap of $69,000, part of the liquidity is moved to the Solana-based exchange Raydium and subsequently burned. While also available on the Base and Blast networks, Pump.Fun’s primary usage is on Solana, where it has generated $147 million in revenue since its inception.
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