“One of the biggest drivers of Solana’s growth has been memecoin trading,” VanEck added, noting that Pump.fun generated more than $577 million in fees in just over a year.

One US exchange-traded fund issuer has even proposed creating a BONK ETF. In the fourth quarter of 2024, application revenues on Solana increased by 213%, primarily due to memecoin speculation ...

particularly as the value of President Trump's memecoin has fallen nearly 80%. With billions of dollars flowing into largely speculative Solana tokens — many of them short-lived cash grabs ...

Argentine President Milei was pictured with Elon Musk at a Washington political event on Thursday, despite facing impeachment calls over the Libra memecoin rug pull. Solana price declined 4% on ...

The apparent LIBRA token rug pull is the the latest incident to negatively affect the Solana memecoin ecosystem, Galaxy Research said in a report on Monday. The narrative had already began to sour ...

Memecoin fraud has significantly impacted Solana’s reputation and market performance, as the network has become a leader in launching meme coins. And, as a result, it contributed to the prosperity of ...

Pump.fun, the Solana-based crypto trading platform behind many viral memecoin launches, responded to one of West’s posts by advocating for him to “channel Andrew Tate and launch a coin.” ...

At the same time, Solana’s once-thriving memecoin ecosystem is slowing down, and concerns over security risks tied to the $1.4 billion Bybit hack are weighing on sentiment. The combination of ...

Alex Thorn, head of firmwide research at Galaxy, described the situation as another troubling development in Solana's memecoin sector, which has seen a steep decline since January. He pointed out ...