Solana registers new all-time excessive in each day transaction-related charges

Transaction-related charges on Solana (SOL) surpassed $11 million on Oct. 24, marking a brand new all-time excessive, in keeping with Blockworks Analysis data.

The metric is named “actual financial worth” (REV), which incorporates transaction charges and MEV ideas for validators.

Solana has been dominating each day buying and selling volumes within the decentralized finance (DeFi) ecosystem for 13 days straight, according to DefiLlama.

In the meantime, the community’s decentralized exchanges registered over $2.6 billion in buying and selling quantity on Oct. 24.

AI memecoins lead progress

Notably, this peak in REV and the numerous buying and selling quantity come amid the frenzy sparked by the intersection between synthetic intelligence (AI) and memecoins. 

The AI agent Fact Terminal spurred this new on-chain buying and selling “meta,” as its publications a couple of “Goatse Gospel” motivated the inception of the memecoin Goatseus Maximus (GOAT). GOAT at present has $650 million in market cap and has moved almost $450 million on-chain prior to now 24 hours.

Consequently, an enormous wave of AI-related tokens overtook Solana. Memecoin-focused launchpad Pump.fun reached an all-time excessive of 36,339 deployed tokens on Oct. 24, as revealed by Hashed’s dashboard on Dune Analytics.

The overall deployed on Pump.enjoyable represented over 84% of all 43,166 new tokens issued on Solana yesterday, which can also be a new record.

Furthermore, Pump.fun-launched tokens took the lead in weekly buying and selling volumes on Solana for the primary time, with roughly $8.7 billion moved final week, based on Blockworks Analysis knowledge.

Resulting from these elements, one other key threshold was breached on Oct. 24, with Pump.enjoyable surpassing 1 million SOL in income simply 9 months after its launch.

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