Chainfeeds Introduction:
This article compares the market performance of top and popular MEME projects on Ethereum and Solana and finds that Ethereum, as the birthplace of early MEME, has gained a higher market share and recognition due to its more solid funding and user base, and the diversity of MEME types makes it easier to meet the needs of different players; while the MEME on Solana is good at quickly using hot spots to capture traffic, while showing stronger price explosiveness and capital attractiveness.
Article Source:
https://www.panewslab.com/zh/articledetails/ydw8q3sd.html
Article author:
PANews
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PANews: MEME has gradually become one of the important sectors in the crypto market. According to CoinMarketCap data cited by Forbes recently, in the cryptocurrency rally in the first half of 2024, the market performance of coins including WIF, PEPE and FLOKI exceeded mainstream tokens such as Bitcoin and Ethereum. And the Q2 2024 report released by CoinGecko also pointed out that MEME is the most popular narrative this quarter, and related tokens account for 14.3% of the market share. Among them, Ethereum and Solana are undoubtedly the main battlefields for MEME coins. According to PANews statistics, as of July 16, the total market value of MEME has increased by more than US$54.1 billion, with a daily trading volume of nearly US$7.87 billion. Among them, the Top 10 MEME projects are basically from Ethereum and Solana, and their total market value exceeds US$44.55 billion, accounting for 82.2% of the total. From a number of data such as market share, development time, user volume and type, it can be seen that the head MEME on Ethereum has an absolute market advantage and a strong community foundation, while Solana has shown a strong wealth effect this year. Capturing hot topics can often help investors grasp the pulse of the market, so it has a great impact on the participation of players. In particular, MEME, a typical representative of the attention economy, is more likely to become a hype topic due to its popularity. In this section, PANews compares the market performance of 5 popular MEME projects with the same name on Ethereum and Solana in terms of launch time, market value, rise and fall, and liquidity. Timing can affect the precipitation of funds and profitability to a certain extent, so the sensitivity of hot spot capture is an important consideration for MEME players. From the perspective of launch time, the launch time of MEME projects on Solana, including FIGHT and FEAR NOT, is mostly earlier than that of Ethereum. This means that Solana may be more likely to attract MEME players to participate. The current trading volume of popular MEME also shows that Solana is more attractive to players and funds on the chain than Ethereum. Taking DEX Screener data as an example, in the past 24 hours, the transaction volume of the top 20 MEME trading pairs on Solana exceeded US$280 million, accounting for 15.5% of the day's transaction volume, while Ethereum accounted for 9.3% of the total, which was US$190 million.
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