The Solana blockchain experienced an unprecedented surge in on-chain activity last weekend. This spike was driven by President-elect Donald Trump's launch of his own memecoin, which pushed on-chain activity to new heights, surpassing previous records.

Announced just days before his inauguration, the $TRUMP token quickly amassed a market capitalization exceeding $30 billion, propelling Solana's native token, SOL, to an all-time high of $294 USD on 19.1.25. According to CoinMarketCap, the token currently ranks 25th among other assets (as of 24.1.25).

The flood of traffic within the Solana Ecosystem is largely a result of the onboarding of new users. Data from Chainalysis displays that nearly half of token holders of $TRUMP and $MELANIA tokens are using wallets created the same day of their purchase. Data from 23.1.25

This sudden influx of network activity demonstrated the resilience of the Solana network and its infrastructure, showcasing its ability to handle significant demand while also highlighting areas for further optimization. The network experienced significant strain due to the heightened interest in Trump-themed memecoins, prompting industry-wide efforts to enhance its scalability.

According to Phantom Wallet on X, users swapped over $1.25 billion USD in volume and made over 10M transactions on 20.1.25.

According to Polymarket, there is currently a 89% change that ETF´s will be approved in the year of 2025. Image taken as of 24.1.25

The launch of the $TRUMP memecoin resulted in a surge of public interest, with Google search trends for "buy crypto" and "buy Solana" doubling in volume.

According to Google Trends, we can see that search volume significantly increased for both terms ´´buy solana´´ and ´´buy crypto´´. This indicates a heightened amount of retail interest, which also would explain the increased network activity.

Here we can see the record-breaking volume on the Solana blockchain on decentralized exchanges.

Solana has become the first chain in history to reach over 200B USD in monthly dex volume. Data via DefiLlama, 24.1.25

Stablecoin issuance on the Solana network has also increased significantly, highlighting its potential as a strong contender among Layer-1 blockchains for stablecoins.

Here we can see the record-breaking volume on the Solana blockchain on decentralized exchanges.

In parallel, prediction markets have shown increased confidence in the approval of Solana-based Exchange-Traded Funds (ETFs). Polymarket data indicates a 89% probability of a Solana ETF receiving approval in 2025, reflecting growing investor optimism.

According to Polymarket, there is currently a 89% chance that ETF´s will be approved in the year of 2025. Image taken as of 24.1.25

All these catalysts collectively underscore Solana's growing mainstream appeal. With impending regulatory shifts in the US, we anticipate Solana will further strengthen its position as a leading Layer 1 blockchain, capturing increased market share.

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