Crypto weekend is a riot!
This is what happened in the lead-up to Trump’s today’s inauguration:
- Trump launches the TRUMP memecoin (with an egregious 80% insider allocation) on Friday, catapulting to a $14 billion market cap — and $50+ billion fully-diluted valuation — over the next 33 hours.
- Melania Trump, on Sunday evening announced the launch of MELANIA Memecoin via Twitter. Anthony Pompliano says that these were not created by the exact same team, but it’s unclear.
- TRUMP fell 50% in value, while MELANIA’s market capitalization soared by $13 Billion within four hours.
- SOL reaches new highs at $292.
- Crypto-speculators await the remaining results with great anticipation. “roadmap” You can also include tokens that come from other family members.
In spite of the rush to adopt onchain technology, Solana’s network remained intact, despite the fact that many important infrastructure structures were affected by instabilities.
Jito’s Block Engine, which offers off-chain MEV auctions, had a three-hour period where no transactions could be made. In this period, the median fees for priority (tips) exploded.
A high volume of transactions requests caused many Phantom wallet users to report problems with wallet loading and the inability to transmit transactions. Phantom says that at least 10,000,000 transactions were processed on Sunday.
The founder of Jupiter Exchange says that its API for pricing and quotation engine was temporarily interrupted.
Some users also complained about long transfer times from Coinbase into Solana or freezing withdrawals on Binance.
Solana’s daily DEX volume jumped from $6m (Friday) to $28m (Saturday), and $39m on Sunday.
Solana metrics onchain impact
Solana’s real economic values (REV), which is defined as the total fees users pay (including MEV tip) to transact via blockchain, jumped to $57 Million on Sunday.
Nic Carter is the one who calls the Memecoin Launch. Solana has a huge win. “preposterous”Alex Becker describes it “embarrassing for the United States”.
The metaphorical is a popular concept amongst those who support it “simulation” The boost was definitely felt.
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