Solana Takes Center Stage in the Crypto Community
Solana has been making waves in the crypto community recently, attracting attention with its notable achievements and developments.
Solana’s Network Outage and Subsequent Surge
The Solana network experienced a significant outage that lasted for almost five hours, leading to criticism from various sources. However, shortly after the outage, the price of SOL skyrocketed to $105, and the total value locked (TVL) in its ecosystem reached $1.85B, a level not seen since mid-2022.
WOOF Coin Soars with 70% Surge
WOOF is a meme coin built on the Solana blockchain that aims to become the most decentralized meme/social token in the ecosystem. It has seen a 76% increase in trading volume over the past seven days and is currently trading at $0.00014.
WOOF’s focus on community participation is evident through its name, which stands for “We Own Our Future.” The project emphasizes active involvement from its community members, who lead the protocol’s DAO.
The Rise of BORK Coin
BORK is another meme coin on the Solana blockchain that experienced significant growth recently. It closed the week with a 50% surge, reaching a price of $0.0006142.
BORK draws inspiration from the viral internet meme “Bork” from 2013, also known as Gabe the Dog. The project aims to establish itself as a leading memecoin within Solana by creating a sustainable community of retail investors.
BORK gained attention when a trader made substantial profits of around 2,250 SOL (approximately $245,000) within just five days after discovering the coin shortly after its launch.
Solana’s Thriving Ecosystem
In addition to the success of meme coins like WOOF and BORK, Solana’s ecosystem as a whole has experienced significant growth. The price of SOL reached $110 on Friday, indicating an upward trend.
The TVL in Solana’s ecosystem has also been on the rise, reaching $1.74 billion, a nearly 500% increase since October 2023. However, just one day later, the ecosystem surged to $1.85B, demonstrating the rapid resurgence of Solana’s DeFi ecosystem.
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