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Solana’s Cryptocurrency Market Capitalization Surges in Asia
Solana, a popular cryptocurrency, has seen a significant increase in its market capitalization in Asia, with the current figure standing at $8.1 billion. This marks a substantial rise from the previous figure of $77.9 billion reported in November 2021. The price of Solana has also experienced a surge, with a 10% increase in the past day, reaching $183.55. The highest price recorded for Solana was $259.96 in November 2021.
The Role of Meme Coins in Solana’s Success
Benjamin Stani, the Director of Market Development at Matrixport, attributes Solana’s impressive market capitalization to the popularity of meme coins on the platform. He points out that meme coins, such as Dogwifhat, PopCap, and Bonk, have seen significant increases in value in the past twenty-four hours. Dogwifhat has risen by 20%, PopCap by 35%, and Bonk by 10%.
Solana has highlighted that meme coins like Bonk and Dogwifhat, which are based on the Solana blockchain, have become the first non-Ethereum meme tokens to reach a billion-dollar market capitalization. This success underscores the growing trend of meme coins gaining traction on Solana compared to other non-EVM chains.
The Rising Popularity of Meme Coins on Solana
Clay Robbins, the co-founder of Colosseum, believes that meme coins are experiencing a surge in popularity on Solana due to their accessibility on the platform. The recent update from the Solana network revealed that the daily number of new addresses on the blockchain has reached 738,040 over a seven-day period.
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