On Jan. 20, the L1 network recorded a daily fee of $35 million, more than doubling its average fee. This surge in activity also contributed to the native token, SOL, hitting an all-time high of $295.
Before Trump’s launch, Solana’s daily trading volume was approximately $4.5 billion.
Within just 24 hours, it skyrocketed to $28.5 billion—marking a staggering 700% increase.
As of Monday morning, with $27.7 billion in trading volume in the first 12 hours, analysts expect this figure to climb even further, particularly as U.S. traders begin to join the frenzy ahead of Trump’s swearing-in ceremony.
Solana recorded a surge in daily fees and trading volume. Source: DeFilama
The Trump memecoin itself has seen remarkable growth. The token hit an all-time high of $76, with a fully diluted value (FDV) of $80 billion and a market cap of $15 billion before correcting by 40%. Despite this pullback, the token has remained above $60 as the inauguration approaches.
Solana Reclaims On-Chain Supremacy
Trump’s memecoin launch has solidified Solana’s position as a central player in the memecoin industry.
In the wake of Trump’s memecoin launch, First Lady Melania Trump followed suit by releasing her own memecoin, MELANIA, on Solana. The release has further boosted the blockchain’s on-chain activity.
Crypto enthusiasts expect other members of the Trump family to follow suit and launch more tokens on Solana in the coming months.
A Dual Strategy: Solana and Ethereum’s Role in the Trump Family’s Crypto Moves
While Solana has regained momentum in the memecoin space, the Trump family’s crypto operations extend beyond this blockchain.
World Liberty Finance, a Trump-affiliated crypto company, has been actively buying Ethereum (ETH) in large quantities. Over the past 24 hours, the firm purchased 14,403 ETH—worth approximately $48 million.
Furthermore, World Liberty Finance’s recent acquisition of Ethereum Name Service (ENS) domains—such as WorldLiberty.eth, trumpcoin.eth, erictrump.eth, and barrontrump.eth—suggests that the Trump family may soon introduce more memecoins on Ethereum as well.
As Solana and Ethereum both play important roles in the Trump family’s evolving crypto ventures, the coming months may bring further developments in their blockchain strategy.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
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