According to data from DefiLlama, Davido, Rich The Kid and Caitlyn Jenner have all used Pump.Fun for their token launches, which generated $14.12 million in fees in the past 30 days, outperforming Binance Smart Chain, Ethena, Uniswap Labs and Base.
Solana has a market capitalization of $77 billion, and a large part of its growth is due to meme coins.
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Posted on May 29, 2024 at 9:32pm EST.
Solana has become popular among celebrities with large online followings, a sign of growing adoption for the four-year-old blockchain network.
A number of mainstream artists, including Nigerian singer-songwriter Davido, Australian rapper Iggy Azalea, American hip-hop artist Rich the Kid and Ohio-born rock star Trip Red, have begun to get involved with Solana in the past two days, either talking about joining the ecosystem or launching their own tokens on Solana. Meanwhile, Olympic gold medalist Caitlyn Jenner, who was one of the first to jump on the trend on Sunday, launched another token, this time on Ethereum, on Wednesday night.
For example, Davido, who has 15.3 million followers on X and 7.9 million monthly listeners on Spotify, launched a meme coin with the ticker “DAVIDO” on Wednesday through Pump.Fun, a startup project out of Solana that allows crypto users to create and gamble on meme coins. Within 10 hours, David According to trading analytics platform DexTools, the cryptocurrency has a total trading volume of around $50 million and a market capitalization of $3.36 million.
Solana's summer is starting ⏳✨https://t.co/Lmjgw6ur3v
— David (@davido) May 29, 2024
Similarly, azalea mother The stock price surged on Tuesday night and its market capitalization has since jumped to nearly $12.57 million, with trading volume reaching $98.87 million in the past 24 hours.
“I try to be responsible and not do anything that would be detrimental to the crypto community as a whole. I'm not trying to ruin what everyone has built. I'm just trying to have fun and be a part of the community. [crypto] Me too,” Azalea said in her Twitter space last night.
Let's go to the moon https://t.co/PUBEk0y91n
— Iggy Azalea (@IGGYAZALEA) May 29, 2024
On X, Azalea posts a number of “thirsttraps,” a slang term for social media posts intended to sexually arouse viewers, as a way of promoting her token.
In addition to Davido and Azalea, who were not born in the U.S., U.S.-born artists Trippie Redd and Rich The Kid have also stepped into the Solana ecosystem.
“Someone call Solana. [sic] “New kid in town.” I have written Trip Red appeared on X on Wednesday afternoon. Additionally, on the same night that Azaria launched the token, Rich the Kid and his team rich Through Pump.Fun, the token associated with artist Plug Walk has a market cap of over $417,000, with a 24-hour trading volume of $1.5 million.
Olympic gold medalist Caitlyn Jenner launched Jenner through Pump Fun on Sunday, as did Davido and Rich the Kid. Jenner's market capitalization on Solana, which has fallen more than 53% in the past 24 hours, is now $6.88 million, with 24-hour trading volume of $19.15 million.
The Olympic gold medalist with ties to the Kardashian family has since reportedly introduced another token under the same ticker on Ethereum. post On Wednesday evening from her X account. According to DexTools, JENNER on Ethereum generated $6.22 million in trading volume across approximately 5,860 transactions.
The trend of artists and celebrities engaging directly with Solana is the latest development for the blockchain network, which is approaching $5 billion in total locked value, levels not seen since February 2022, before the collapse of many cryptocurrencies that year.
Davido, Rich the Kid and Jenner's use of Pump.Fun also comes just a few months after the Solana-based meme coin factory first launched. In the past 30 days, Pump.Fun has grown exponentially, generating $14.12 million in fees, outperforming Binance Smart Chain, Ethena, Curve Finance and GMX (according to DefiLlama data). show.
However, on May 16, the exploiter I compromised. Pump.fun halted trading for two days as the project's bonding curve shrunk.
