

Public chains compete for hegemony: Solana issues tens of thousands of Meme coins every day, but the Meme of other chains is 'acclimated”
Different from previous narratives, Meme coins seem to have become the hottest topic in the early stages of this bull market. No matter how disdainful value investors were towards Meme coins before, they can no longer ignore the impact Meme coins have on the industry. As builders of the public chain ecosystem, it seems that they have found a new growth password from Meme coins.
Solana adds nearly 10,000 Meme coins every day, and the 24-hour loss probability is about 99.6%
With the rapid emergence of this wave of investment frenzy, the newly launched Meme coins on the Solana blockchain The number of coins also quickly climbed to alarming levels. Although the average daily issuance volume had previously been as high as 2,500, ranking first among public chains, at its peak on March 15, the Solana blockchain’s single-day coin issuance soared to 9,943 coins, which was the same as that on February 27. An increase of more than 5.8 times compared with 1,699.
PANews analyzed the new Meme coins released in the past 24 hours (March 18-March 19). According to dexscreener data, there were 3288 Meme coins issued and established trading pairs by Solana in the past 24 hours, of which , the size of the liquidity pool is more than 100,000 US dollars, and the number of tokens that have increased more than 10 times in 24 hours is 5, accounting for about 0.15%. This criterion usually indicates that the trading pair has good liquidity and that the meme coin can make early investors profitable.
When we lower the standard, the size of the liquidity pool should be above $100,000 with a 1% increase in 24 hours. This means that the token remains undefeated within 24 hours. In addition, the required number of tokens is 15, accounting for 0.4%.
From this perspective, if you randomly invest in Meme coins on Solana and hold them for 24 hours, the probability of losing money reaches 99.6%.
It has to be said that although Meme’s stories of getting rich seem to happen every day, in fact what we really see may just be survivors.
For example, on March 18, according to monitoring by on-chain analyst @ai_9684xtpa, the address 2Znc4...pW6Cf had accumulated a loss of US$1.48 million in Meme tokens within 11 hours of chasing ups and downs. Among them, it lost $236,000 in NOS tokens, $364,000 in SLERF, and $879,000 in NAP. There are numerous recent data monitoring cases of Solana addresses causing huge losses to Meme tokens.
BOME boosted Solana’s active wallet addresses to double, and on-chain income increased by 160%
Behind the sudden wealth and loss of retail investors, Solana became this The biggest winner of the Meme craze.
Among them, the explosion of BOME currency directly brought huge data changes to Solana. BOME was launched on February 14. From February 15 to February 16, Solana’s active wallet addresses increased from 1.24 million to 2.42 million, an increase of 1.18 million, a surge of 95%. On March 19, Solana ranked first in the number of active addresses.
In addition to the significant increase in the number of active wallets, other data on the entire Solana chain ecosystem have also been greatly improved. The Solana on-chain network fee increased from 5453 SOL to 14389 SOL from March 12 to March 17, an increase of nearly 163%. At a SOL price of $200, Solana’s on-chain fee revenue reached $2.87 million on March 17.
The growth of Meme coins has also helped the DEX on the Solana chain to become the decentralized exchange with the highest market share. Coingecko data on March 19 shows that among the top five DEXs, three are from the Solana chain, with market shares of Jupiter 19.9%, Raydium 19.9%, and Orca 10.1%. The market share of these three DEX is approximately 49.9%, accounting for half of the DEX market.
Taking Raydium as an example, the one-hour trading volume before March 15th was approximately US$150 million, and by March 19th, the hourly trading volume increased to 25 billion, an increase of more than 15 times.
#But the huge growth BOME has brought to Solana is not an exception. On December 14, 2023, BONK, the earliest Meme coin on Solana, rose by 84%. On December 15, the number of active addresses increased from 550,000 to 1.08 million, directly driving the number of active addresses to almost double.
Multiple public chains are trying to replicate the Meme effect, but the results are still unknown
After Solana achieved great success with Meme, other public chains have gradually realized that Meme coins may bring The network has grown, and some public chain officials have even personally issued MEME tokens.
On December 29, 2023, the Avalanche Foundation stated that it would advance the Culture Catalyst program by purchasing Meme coins.
On March 17, Aptos launched the official meme coin $LME. On March 18, Bitcoin Layer 2 public chain Ligo announced the launch of Meme coin SOLIGO on Solana.
But can Meme coins really become the golden key to the growth of each public chain’s current bull market data?
The LME currency issued by Aptos also performed unsatisfactorily. After a brief rise, it began to fall continuously. The price had fallen to 0.00001318 on March 19, a drop of 93.6% from the high of 0.0002075. The number of daily active addresses on the chain has not increased significantly.
It seems that the seeds of Meme coins cannot germinate in every piece of public chain soil. This may be a question that every ecology needs to think about.
The above is the detailed content of Public chains compete for hegemony: Solana issues tens of thousands of Meme coins every day, but the Meme of other chains is 'acclimated”. For more information, please follow other related articles on the PHP Chinese website!

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