The trading volume of decentralized exchanges (DEX) on the Solana blockchain has surged, reaching $3.578 billion within 24 hours, closely following Ethereum’s $3.937 billion. In addition, the popularity of meme coins such as BOME and POGAI has brought unprecedented excitement and attention to the Solana ecosystem.
Recently, the price of Solana has been rising, and its on-chain ecosystem has shown strong development momentum. SOL has risen over 12% in the past 24 hours, and the ecosystem has become active due to airdrops and the explosion of meme coins. According to DeFiLlama data, the trading volume of DEX on Solana reached $3.578 billion in the past 24 hours, approaching Ethereum’s $3.937 billion, an increase of 52% compared to the previous day.
The trading volume in the past 7 days has exceeded $13.3 billion, second only to Ethereum’s $18.9 billion and BSC’s $13.7 billion.
The surge in on-chain trading volume is attributed to the recent popularity of two meme coins in the Solana ecosystem, BOME and POGAI. BOME, also known as BOOK OF MEME, was launched by Pepe Meme artist Darkfarm on March 14. Binance has announced the listing of BOME contracts, and it has reached a new high of $0.02.
According to DexScreener data, after the news of BOME listing on Binance contracts was released, its price surged 62.5% from $0.01239 to a high of $0.02014, reaching a historical high. Its market value also exceeded $1.35 billion. At the time of writing, it was reported at $0.0181, a surge of 317% in the past 24 hours.
It is worth mentioning that Lookonchain, an on-chain monitoring account, discovered yesterday (15th) that a wallet with the address starting with Haee7 withdrew 12,721 SOL (worth $2.3 million) from Binance and bought $314 million worth of BOME at a price of $0.0074. Lookonchain suspects that the wallet may be an insider trader.
The wallet has not sold BOME yet. If calculated at the current price of $0.0181, the unrealized profit is approaching $3.36 million, with a return rate of 144%.
POGAI’s wealth myth
In addition, Lookonchain found in today’s on-chain data that a trader with an address starting with 4iVkf made $1.14 million by trading POGAI within a short period of 6 hours. This person spent 1,200 SOL to purchase 9.82 billion POGAI at the same second of creating a liquidity pool. Within 6 hours, they sold all of them at a price of 7,343 SOL, earning 6,143 SOL, worth $1.14 million.
The allure of getting rich quickly is tempting, but readers are reminded that the market for meme coins is highly volatile. Please make a risk assessment and make decisions carefully.
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