- Total value locked on Solana reaches $12 billion following the launch of Trump’s memecoin.
- The $TRUMP token becomes the third-largest memecoin by market capitalization.
- Network activity surge leads to Raydium surpassing Tether in 24-hour fee generation.
- Moonshot platform reports $400 million trading volume and 200,000 new users in 12 hours.
- Probability of Solana ETF approval by July increases from 43% to 61% according to Polymarket.
Donald Trump‘s official memecoin launch on the Solana network has catalyzed a remarkable surge in the blockchain’s ecosystem, pushing its total value locked (TVL) past $12 billion for the first time since the FTX collapse, while driving the network’s native token to new price heights.
Trump Token Impact on Solana Ecosystem
According to DeFiLlama data, the value secured in Solana’s smart contracts has reached unprecedented levels, with the network’s TVL – a metric measuring the total value of cryptocurrencies deposited in a blockchain’s applications – hitting $12 billion. The native SOL token experienced a 23% price increase following the memecoin announcement.
CIC Digital LLC, a Trump-affiliated organization, coordinated the token launch in partnership with Fight Fight Fight LLC, as reported by the BBC. These entities control 80% of the token supply, scheduled for distribution over three years.
Trading Volume and User Growth
The launch created substantial activity on Solana’s decentralized exchanges, with Raydium exceeding Tether’s fee generation over 24 hours. The memecoin trading platform Moonshot reported approximately $400 million in trading volume during its first 12 hours, while onboarding over 200,000 new users to the network.
Market Implications
The token’s launch has influenced market sentiment regarding Solana’s future prospects. Polymarket data indicates traders have increased their confidence in a potential spot Solana ETF approval, with probability estimates rising from 43% to 61% for approval by July 31.
Cryptocurrency industry veteran and Shapeshifter founder Erik Voorhees noted that this development signals a shift toward "much more permissive innovation" in U.S. financial technology policy, marking a significant change in the regulatory landscape for digital assets.
✅ Follow BITNEWSBOT on Facebook, LinkedIn, X.com, and Google News for instant updates.
Consider a small donation to support our journalism
Previous Articles:
- Trump’s Pardon Promise Sends Ross Ulbricht’s Freedom Odds Soaring to 79% on Prediction Markets
- Trump’s Return to White House Sparks Crypto Market Optimism Amid Regulatory Uncertainty
- Nintendo Switch 2 Trailer Reveals Potential Mouse-Con Feature and Mario Kart Innovations
- MicroStrategy’s Bitcoin Stash Soars to $47.3 Billion, Up 69% on Investment
- Decentralized GPU Network io.net Goes Live on Injective, Aims to Democratize AI Computing
