Solana Once again, it becomes the memecoin trading center on the blockchain over the weekend. With the rapid expansion of trades in $ ZCAT and $ STONK, the 24-hour spot DEX trading volume of Solana has rebounded to the top among all chains, indicating that speculative funds that had previously flowed to other networks have returned to this ecosystem.
Solana Returns to Spot DEX Tops the List
Reports show that $ ZCAT is a memecoin that is linked to the reward mechanism of the Zcash token $ ZEC. As demand increased, it drove a rapid surge in on-chain transactions of Solana. On a single day, the trading volume of Solana exceeded $2.7 billion, once again surpassing other public chains.
The enthusiasm for the same round of transactions also pushed up the valuation of related tokens. $STONK and $ZCAT once reached historical highs of approximately $186 million and $179 million respectively, with some participating addresses achieving substantial profits in a short period of time.
Stonk.fun generates revenue from more than two platforms
In this round of market activity, the daily revenue of Solana's launch platform Stonk.fun once surpassed that of Pump and Hyperliquid. Although the trading volume of the platform subsequently cooled down, the rate at which its tokens were destroyed remained relatively fast.
According to reports, Stonk.fun uses 60% of its protocol revenue for token repurchase and destruction. On Sunday, the platform destroyed 0.6% of the total supply, and at the current pace, another approximately 0.3% may be destroyed the following day.
- Single-day revenue once exceeded Pump and Hyperliquid.
- 60% of protocol revenue is used for repurchase and destruction.
- The amount destroyed on Sunday accounted for approximately 0.6% of the total supply.
The multi-pairing model drives follow-up expectations.
In addition to stock-based pairs, Stonk.fun is currently also attempting a broader range of asset portfolios, including commodities and mainstream crypto assets. The report also mentions that signs from the new application World.xyz indicate that the platform may continue to expand into the tokenized forecasting market.
As the multi-pair issuance model attracts more funds, the market has begun to pay attention to whether competitor Pump.fun will follow suit. Pump.fun investor and partner of 6th Man Ventures, Mike Dudas, believes that the likelihood of such a change is quite high.
In the past 24 hours, $ PUMP has risen by 8.15%, while $ STONK has fallen by about 35%. However, the latter saw a significant rebound over the weekend, and this recent decline is more reflective of a short-term cooling trend.
