{"id":22144,"date":"2024-06-06T20:00:15","date_gmt":"2024-06-06T17:00:15","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22144"},"modified":"2024-06-06T17:33:28","modified_gmt":"2024-06-06T14:33:28","slug":"solana-sees-price-jump-amid-memecoin-frenzy","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/","title":{"rendered":"Solana Sees Price Jump Amid Memecoin Frenzy"},"content":{"rendered":"<p>Memecoin trade on <strong>Solana&#8217;s<\/strong> network is currently driving its ongoing price increase, said the founder of a distributed exchange.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#Memecoins_Propel_Solanas_Activity_Surge\" title=\"Memecoins Propel Solana\u2019s Activity Surge\">Memecoins Propel Solana\u2019s Activity Surge<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#Ether_Volatility_Expected_to_Outpace_Bitcoin\" title=\"Ether Volatility Expected to Outpace Bitcoin\">Ether Volatility Expected to Outpace Bitcoin<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Memecoins_Propel_Solanas_Activity_Surge\"><\/span>Memecoins Propel Solana\u2019s Activity Surge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to Tristan Frizza, founder of <a href=\"https:\/\/www.zeta.markets\/\">Zeta Markets<\/a>, memecoin trading activity on the <strong>Solana<\/strong> network is largely responsible for the value surge of the token. <em>&#8220;Memecoins have unquestionably started to be a major <strong>Solana<\/strong> activity source. Beyond conjecture, this shows <strong>Solana&#8217;s<\/strong> capacity to manage large transaction volumes with low fees, therefore creating the ideal setting for retail users.&#8221; T<\/em>ell the Block, Frizza advised.<\/p>\n<p>Frizza used on-chain data such as <strong>Solana&#8217;s<\/strong> total value locked (TVL), which exceeded $4.9 billion, to show this. <em>&#8220;This shows strong network activity; the number of active users has also been steadily rising; monthly active addresses in May reached a new all-time high of 41.65 million,&#8221;<\/em> Frizza said.<\/p>\n<p><span style=\"color: #0000ff;\"><em>This Might Interest You: <a style=\"color: #0000ff;\" href=\"https:\/\/coinengineer.net\/blog\/vitalik-buterin-criticizes-celebrity-memecoin-craze\/\">Vitalik Buterin Criticizes Celebrity Memecoin Craze<\/a><\/em><\/span><\/p>\n<p>Based on The Block&#8217;s Price Page, <strong>Solana<\/strong> has gained by almost 5% in the previous 24 hours and is currently trading at $174.83 as of right now.<\/p>\n<p>This week&#8217;s Bitfinex Alpha report indicates that the <strong>Solana<\/strong> DeFi ecosystem is expanding, as shown in its lending, liquid staking, and perpetual markets.<\/p>\n<p><em>&#8220;<strong>Solana&#8217;s<\/strong> benefits in terms of transactions per second throughput and scalability help to explain this comeback in this blockchain over others. Although both Solana and Ethereum are still rising, <strong>Solana<\/strong> is clearly rising while Ethereum is four places behind TVL in terms of decentralized exchange volumes by chain; more users find utility in Solana&#8217;s blockchain.&#8221;<\/em> Bitfinex analysts observed.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ether_Volatility_Expected_to_Outpace_Bitcoin\"><\/span>Ether Volatility Expected to Outpace Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ether is projected to show more price swings this month than bitcoin at the top of the rankings on the market capitalization for cryptocurrencies. QCP Capital analysts believe that traders expect further price swings for ether, maybe in relation to the forthcoming release of spot ether exchange-traded funds (ETFs), as ether options implied volatility (IV) is now higher than that for bitcoin.<\/p>\n<p>With the options market clearly reflecting this, ether vols [IV] is currently trading 15% over bitcoin vols.<em> &#8220;Bullishness is likely to continue as the market waits for the spot ether ETF to usher in new demand,&#8221;<\/em> QCP Capital analysts said.<\/p>\n<p>Andrew Melville, Head of Research for Block Scholes, noted that the price swings of ether have become more important since mid-May than those of bitcoin, highlighting the biggest difference in volatility between both tokens since the fall of the FTX in November 2022.<\/p>\n<p><em>&#8220;With possible revisions to Ether ETF applications hanging, the higher premium ascribed to volatility represents more uncertainty, especially in the immediate term. Unlike the current surge, though, there isn&#8217;t as much demand for ether&#8217;s price to rise rapidly. With similar short-term positioning between both ether and bitcoin, the market attitude seems generally cautiously optimistic,&#8221;<\/em> Melville added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Memecoin trade on Solana&#8217;s network is currently driving its ongoing price increase, said the founder of a distributed exchange. Memecoins Propel Solana\u2019s Activity Surge According to Tristan Frizza, founder of Zeta Markets, memecoin trading activity on the Solana network is largely responsible for the value surge of the token. &#8220;Memecoins have unquestionably started to be<\/p>\n","protected":false},"author":6,"featured_media":22146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1729,5423,1332,319],"class_list":["post-22144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ether","tag-ether-etf","tag-memecoin","tag-solana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solana Sees Price Jump Amid Memecoin Frenzy - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Solana&#039;s price surge is driven by memecoin trading, boosting its total value locked and active users. Solana&#039;s TVL hits $4.9B.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana Sees Price Jump Amid Memecoin Frenzy - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Solana&#039;s price surge is driven by memecoin trading, boosting its total value locked and active users. Solana&#039;s TVL hits $4.9B.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-06T17:00:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-06T14:33:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/\",\"name\":\"Solana Sees Price Jump Amid Memecoin Frenzy - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg\",\"datePublished\":\"2024-06-06T17:00:15+00:00\",\"dateModified\":\"2024-06-06T14:33:28+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"description\":\"Solana's price surge is driven by memecoin trading, boosting its total value locked and active users. Solana's TVL hits $4.9B.\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg\",\"width\":1200,\"height\":720,\"caption\":\"Solana Cypherpunk\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Solana Sees Price Jump Amid Memecoin Frenzy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Solana Sees Price Jump Amid Memecoin Frenzy - Coin Engineer","description":"Solana's price surge is driven by memecoin trading, boosting its total value locked and active users. Solana's TVL hits $4.9B.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/","og_locale":"en_US","og_type":"article","og_title":"Solana Sees Price Jump Amid Memecoin Frenzy - Coin Engineer","og_description":"Solana's price surge is driven by memecoin trading, boosting its total value locked and active users. Solana's TVL hits $4.9B.","og_url":"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/","og_site_name":"Coin Engineer","article_published_time":"2024-06-06T17:00:15+00:00","article_modified_time":"2024-06-06T14:33:28+00:00","og_image":[{"width":1200,"height":720,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg","type":"image\/jpeg"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/","url":"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/","name":"Solana Sees Price Jump Amid Memecoin Frenzy - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg","datePublished":"2024-06-06T17:00:15+00:00","dateModified":"2024-06-06T14:33:28+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"description":"Solana's price surge is driven by memecoin trading, boosting its total value locked and active users. Solana's TVL hits $4.9B.","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg","width":1200,"height":720,"caption":"Solana Cypherpunk"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/solana-sees-price-jump-amid-memecoin-frenzy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Solana Sees Price Jump Amid Memecoin Frenzy"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/22144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=22144"}],"version-history":[{"count":3,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/22144\/revisions"}],"predecessor-version":[{"id":22157,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/22144\/revisions\/22157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/22146"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=22144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=22144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=22144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}