#Solana Transaction Fees Hit All-Time High#
Hot Topic Overview
Overview
Transaction fees on the Solana network recently hit an all-time high, primarily driven by the launch of a Trump family meme coin, which triggered a surge in on-chain activity. Following the release of the Trump meme coin, daily transaction fees on the Solana network peaked at $33.3 million, more than double the previous record. Moreover, Solana's decentralized exchange (DEX) daily trading volume has consistently remained above $27 billion, leading all Layer 1 blockchains. While high transaction volume and network requests caused some ecosystem applications to experience delays, these issues were quickly addressed. The price of Solana's native token also surged over 50%, exceeding $260, marking a new all-time high.
Ace Hot Topic Analysis
Analysis
Solana network's daily transaction fees hit an all-time high, primarily driven by the launch of the Trump family meme coins ($TRUMP and $MELANIA), leading to a surge in on-chain activity. Following the release of these tokens, Solana decentralized exchanges have consistently maintained daily trading volumes above $27 billion, outperforming all Layer 1 blockchains. Trump's meme coin, $TRUMP, rapidly reached a market capitalization of $14 billion, with a fully diluted valuation of $70 billion, placing it among the top 20 cryptocurrencies. Meanwhile, $MELANIA achieved a market cap of $1.6 billion, also contributing significantly to the growth of the Solana ecosystem. Additionally, Solana's native token price surged over 50% in a week, breaking through the historical high of $260. However, the high transaction volume has resulted in network congestion, leading to delays in certain applications such as Phantom and Jito. While the launch of the Trump family meme coins has brought massive traffic and volume to the Solana network, it has also raised concerns about the potential negative impact of this short-term hype on the long-term development of the network.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Solana transaction fees hit a record high, mainly driven by the trading frenzy sparked by the launch of the Trump family token.
Solana DEX trading volume also hit a record high, surpassing that of BNB Chain, indicating the thriving Solana ecosystem.
The surge in transaction volume and user requests on the Solana network led to network congestion, resulting in delays for some applications, reflecting the capacity limitations of the Solana network.
The launch of the Trump family token has had a double-edged effect on the Solana network, driving transaction volume and network usage on the one hand, but exposing network capacity shortcomings on the other.