SOL News: Solana Network Revenue Milestone Hits $35 Million During Meme Frenzy

The Solana Network Revenue Milestone reached $35 million over the weekend, marking a historic achievement for the blockchain renowned for its low transaction costs. On Saturday, Donald Trump’s official token, TRUMP, debuted on the network, sparking a surge in trading activity.

Record-Breaking Fees for Solana

Between Saturday and Sunday, the Solana network generated over $35 million in fees and earned at least $14 million in revenue from approximately 6 million active addresses.

Comparison with Previous Peaks

These fees are more than double the $14 million recorded on November 22, when a wave of AI Agent tokens led to heightened activity. The Solana Network Revenue Milestone underscores the blockchain’s scalability and efficiency, even under significant demand.

The TRUMP Token’s Ripple Effect

The launch of the TRUMP token brought over $3 billion in trading volumes across Saturday and Sunday.

Impact on Solana Ecosystem

Other tokens within the Solana ecosystem, such as Jupiter’s JUP, also benefited, seeing heightened interest from traders.

Boost in SOL Demand

The increased activity boosted demand for SOL tokens, pushing trading volumes from $3 billion on Thursday to over $26 billion within 24 hours. Weekly gains for SOL reached 46%, and the token has surged nearly 3,000% from its three-year low of $9 in December 2022, following the collapse of FTX.

Network Performance Under Pressure

Late Sunday, First Lady Melania Trump launched her own memecoin, triggering a 50% drop in the value of TRUMP at one point.

Temporary Network Delays

The intense trading volumes briefly caused delays on applications like Jito and Phantom, particularly during the Asian morning hours.

Swift Recovery

Phantom reported processing 8 million transactional requests per minute, with users swapping over $1.25 billion in volume and executing 10 million transactions in just 24 hours. These delays were quickly resolved, showcasing Solana’s adaptability to high-demand conditions.

Solana’s Strengthened Market Sentiment

The Solana Network Revenue Milestone has bolstered confidence in the blockchain as a high-performance platform.

Future Implications

The network’s ability to process record-breaking trading volumes and its growing market activity highlight Solana’s potential as a leading blockchain for high-performance applications.

As the ecosystem continues to evolve, Solana’s role in major token launches cements its reputation as one of the most innovative platforms in the crypto space.