BOME creates a record-breaking big pump, taking stock of the popular projects of SOL that you must watch

[TL;DR]

After the Ethereum Cancun upgrade, it was pleasantly surprising to see SOL’s performance more eye-catching, while Solana A series of popular projects such as MemeCoin, AI, and DePIN have emerged one after another on the chain, occupying hot spots in the market.

Due to its deep liquidity and ability to accommodate a large influx of funds, BOME has attracted a large number of buy orders exceeding hundreds of SOL, which quickly spread throughout the crypto community, driving its price to continue rising.

Solana has completely emerged from the shadow of FTX and is now attracting investors who are eager for high returns with its huge investment potential.

Introduction

After the Ethereum Cancun upgrade, it is surprising to see that SOL has performed even better. On the Solana chain, a series of popular projects such as MemeCoin, AI, DePIN, etc. have emerged, especially the outstanding performance of MemeCoin on Solana chain, which has seen consecutive strong rises. Many investors have gained considerable profits.

As of the time of writing, according to CoinMarketCap, the current 24-hour trading volume of Memes24 is $14B, and the market capitalization has reached $57.6B, accounting for 8.5%.

Figure 1 from: CoinMarketCap

So, here we will first share the hottest meme families on Sol.

BOOK OF MEME（BOME）

BOOK OF MEME（BOME）This new MEME coin is launched by the well-known Pepe Meme artist Darkfarm. Originally planned to raise 500 SOL, but the data disclosed by Darkfarms shows that he successfully raised an amazing 10131 SOL.

Subsequently, Darkfarms decisively deposited all the SOL raised into the LP pool, with an initial price set at 0.0{3}496 USDT°.

Due to its deep liquidity and the ability to accommodate a large amount of funds, it has attracted a large number of buy orders exceeding 100 SOL, which quickly spread throughout the crypto community, driving its price to continue rising. The previously launched NFT series SMOWL by Darkfarms is also favored and has seen consecutive big pumps.

According to Gate.io data, the price has now reached $0.0137, achieving a nearly 28000% increase.

Figure 2 Source: Gate.io

COCO

BOME’s hot trend has brought a series of imitations, and the MEME project COCO (little crocodile) initiated by KOL Kero (@KeroNFTs) is raising funds on the X platform. On-chain data shows that the address has received a total of approximately 54,696 SOL, worth over $10 million.

Figure 3 Source: @KeroNFT

Gate.io will continue to monitor whether the project can drive community trends.

Bonk (BONK)

Bonk (BONK) is a meme coin with a dog design theme that debuted in the market on December 25, 2022 and runs on the Solana blockchain.

Figure 4 Source: Gate.io

The original intention of the token is to facilitate liquidity on Solana-based decentralized exchanges (DEXs). The development team positions it as a versatile community token that can be widely used in all decentralized applications (dApps) built on Solana.

The total supply of BONK has reached approximately 100 trillion. In order to attract the attention of Solana community members, 50% of the total supply is distributed to Solana users through airdrops, covering artists, creators, and active community members. This strategy aims to build a vibrant and highly engaged community around the token.

During the Christmas period in 2022, the launch of BONK was seen as a special gift to the Solana community. Its subsequent rapid growth fully demonstrates its significant success in the web3 community. Firstly, through a free airdrop activity, BONK attracted widespread attention from the Solana community in the initial stages, providing users with a low-barrier entry opportunity, thereby driving its rapid spread.

Of course, BONK is no longer just a pure meme now. It has been successfully integrated into some Solana-based projects to expand its adoption rate. Some platforms also offer the opportunity to stake NFTs to earn BONK tokens.

dogwifhat (WIF)

Dogwifhat cryptocurrency was born from the widespread dissemination of the ‘dogwifhat’ meme. Its founder, Issa, quickly gained popularity on the internet after changing his profile picture on Twitter to a Shibu Inu dog wearing a hat.

This meme has quickly become a symbol of community unity, especially popular among gamers and internet celebrities, and is widely used as avatars on social media.

Figure 5 Source: Gate.io

The dogwifhat team has seized the trend and launched the $dogwifhat coin, aiming to celebrate the cultural impact brought by memes and inject new vitality into the digital collectibles and investment field.

The token adopts a unique economic structure, focusing on charity, team support, and Uniswap To ensure its long-term development and community participation, liquidity is essential.

Of course, the Sol eco is not only limited to MemeCoin. A series of AI, DePIN, RWA, Gamefi, and other projects have also attracted market attention, forming the typical bull market characteristics of ‘thin protocols and fat applications’.

Jupiter (JUP)

Jupiter is a DEX aggregator based on Solana, aiming to provide traders with the best price and minimal slippage liquidity.

It not only started as a trading engine, but also expanded into multiple products such as Dollar Cost Averaging, Limit Orders, Perpetual Contracts, and Launchpad to meet the needs of different users.

After the project announced the JUP token in November last year at Breakpoint, the monthly trading volume reached a historical high of over 16 billion US dollars, approaching the trading share of the leading Uniswap.

Figure 6 Source: Gate.io

Currently, Jupiter has surpassed Uniswap with a 24-hour trading volume of over $2.5 billion, occupying more than 16% of the organic trading volume of DEX, which is of great significance to Solana retail traders.

Jito(JTO)

Jito is the first liquidity staking protocol on Solana that combines MEV earnings with staking rewards.

Figure 7 Source: Gate.io

Although there are gaps between Jito and Marinade in terms of eco composition, decentralization level, and staking model, these gaps will gradually narrow as Jito develops. Jito’s core advantage in capturing and distributing MEV value will be further enhanced as the Solana network grows.

It is foreseeable that with the increase of new assets and new users in Solana, the increase of transaction volume, and the low liquidity staking ratio of Solana, the LSD protocol represented by Jito is expected to attract more staked TVL and become the leading LSD protocol in the Solana eco.

IO. NET（IO）

Since the beginning of the first quarter, many AI and DePIN projects built on the Sol chain have been launched, and the most popular one is IO.NET.

IO.NET is a network of GPUs built on the SOL chain by aggregating data from underutilized sources such as data centers, cryptominers, and more Filecoin and Render GPU (Graphics Processing Unit) of the participating projects to form a decentralized physical infrastructure network (DePIN).

Compared with other DePIN computing projects in the market, IO.NET clearly focuses on GPU computing power and has successfully built a GPU network that is 100 times larger than similar projects. It is worth mentioning that IO.NET is also the first in the blockchain field to integrate cutting-edge ML technology stacks, such as Ray clusters, Kubernetes clusters, and giant clusters, into the GPU DePIN project and put them into large-scale practice. This not only gives IO.Net an advantage in GPU quantity, but also demonstrates outstanding leading position in technical applications and model training capabilities. The project has not yet issued coins, and Gate.io will continue to pay attention to the progress of such tracks.

Summary

Overall, Solana has completely emerged from the shadow of FTX and is currently attracting investors who are eager for high returns with its huge investment potential. We are pleased to see that this eco is gradually establishing solid partnerships and attracting a continuous stream of funds, creative builders, and community users.

Of course, we must also realize soberly that the current market atmosphere can easily lead investors into the blind FOMO sentiment of blindly following the trend.

With the vigorous development of the SOL eco, various projects emerge one after another, among which there are both good and bad situations. Although in the long run, the SOL eco will definitely shine, investors still need to remain rational and cautious in the short term, carefully uating the development potential of each project.