Solana-Based Memecoins Experience Price Declines

0

[ad_1]

Over the past 24 hours, the top ten memecoins native to the Solana network have all seen declines, accompanied by a decrease in the value of Sol, the network’s native cryptocurrency, by over 3%.

Among the notable decreases, Dogwifhat saw a decline of 5%, while Bonk experienced a drop of 3.5%. Book of Meme faced a significant downturn of 10%, and Jeo Boden’s value decreased by 1.3%. Cat in a Dogs World suffered the most substantial decline, plummeting by 18.9%, followed by Popcat with an 18.0% decrease. Myro encountered a 5.0% drop, while Wen and Slerf both experienced declines of 14.4% and 7.4%, respectively. Additionally, Catcoin saw a decrease of 7.7% in its value.

As a result, the entire Solana memecoin market cap now stands at $8.3 billion, constituting 12% of the total memecoin market value, estimated at around $64 billion, according to Coingecko data.

Furthermore, the daily moving average of non-vote transactions on the Solana network has fallen to approximately 24 million, marking a multi-week low. This decline in transactions coincides with congestion on the Solana network, attributed to spam transactions.

Despite the decrease in memecoin prices, the popularity of on-chain memecoin trading on Solana led to a new all-time high in on-chain volumes, measured in U.S. dollar terms, on Friday.

Solana Liquidations Spike

Sol, the native cryptocurrency of the Solana network, experienced a decline of over 3% in the past 24 hours, trading at $175 at 9:22 a.m. ET, according to The Block’s Price Page.

Notably, Sol long positions bore the brunt of Monday’s market volatility, with over $4.33 million in Sol long liquidations recorded in the past 24 hours out of a total of $4.81 million in liquidations across the wider cryptocurrency market, which saw over $173 million in liquidations over the same period, according to Coinglass data.

Featured Image: Freepik

Please See Disclaimer

[ad_2]

Source link

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 78,685.00
ethereum
Ethereum (ETH) $ 2,482.61
tether
Tether (USDT) $ 0.999887
bnb
BNB (BNB) $ 697.13
xrp
XRP (XRP) $ 1.40
usd-coin
USDC (USDC) $ 0.999892
solana
Solana (SOL) $ 104.43
tron
TRON (TRX) $ 0.339052
hyperliquid
Hyperliquid (HYPE) $ 81.99
staked-ether
Lido Staked Ether (STETH) $ 2,265.05
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.00
zcash
Zcash (ZEC) $ 877.09
dogecoin
Dogecoin (DOGE) $ 0.084658
rain
Rain (RAIN) $ 0.017060
usds
USDS (USDS) $ 0.999858
monero
Monero (XMR) $ 498.71
leo-token
LEO Token (LEO) $ 9.60
wrapped-steth
Wrapped stETH (WSTETH) $ 2,779.67
chainlink
Chainlink (LINK) $ 11.54
whitebit
WhiteBIT Coin (WBT) $ 72.59
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 76,243.00
cardano
Cardano (ADA) $ 0.201194
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998762
stellar
Stellar (XLM) $ 0.179584
wrapped-beacon-eth
Wrapped Beacon ETH (WBETH) $ 2,466.93
bitcoin-cash
Bitcoin Cash (BCH) $ 251.10
canton-network
Canton (CC) $ 0.118655
dai
Dai (DAI) $ 0.999833
wrapped-eeth
Wrapped eETH (WEETH) $ 2,465.31
usd1-wlfi
USD1 (USD1) $ 0.999541
susds
sUSDS (SUSDS) $ 1.08
ethena-usde
Ethena USDe (USDE) $ 0.999898
litecoin
Litecoin (LTC) $ 49.16
the-open-network
Gram (prev. Toncoin) (GRAM) $ 1.36
global-dollar
Global Dollar (USDG) $ 1.00
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 76,366.00
uniswap
Uniswap (UNI) $ 5.31
hedera-hashgraph
Hedera (HBAR) $ 0.075131
avalanche-2
Avalanche (AVAX) $ 7.35
weth
WETH (WETH) $ 2,268.37
sui
Sui (SUI) $ 0.744711
shiba-inu
Shiba Inu (SHIB) $ 0.000005
crypto-com-chain
Cronos (CRO) $ 0.058320
usdt0
USDT0 (USDT0) $ 0.998824
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
paypal-usd
PayPal USD (PYUSD) $ 0.999903
hashnote-usyc
Circle USYC (USYC) $ 1.14
tether-gold
Tether Gold (XAUT) $ 4,439.82
near
NEAR Protocol (NEAR) $ 1.91
memecore
MemeCore (M) $ 1.08
Shares