Solana had a blistering seven days, riding the Trump meme coin launch, inauguration, and ETF hype to approach $300 and hit a new all-time high (ATH) of $294.33.
TL;DR
- Solana is up 37.3% to $256.53; TVL nears $12B.
- Solana hits new price, TVL, and daily fee highs.
- Jupiter to airdrop 700 million JUP tokens to the community.
- Binance and Coinbase delay Solana withdrawals.
- Fraudulent TRUMP and MELANIA meme tokens deceive investors and raise $4.8 million.
Introduction
Solana had a blistering seven days, riding the Trump meme coin launch, inauguration, and ETF hype to approach $300 and hit a new all-time high (ATH) of $294.33. Despite retracing 13% from its peak, Solana is still up 37% on the weekly chart.
The crazy week can be attributed mainly to the launch of the OFFICIAL TRUMP and MELANIA meme coins which propelled Solana's key metrics to new heights.
Solana's total value locked (TVL) skyrocketed past $12 billion, with decentralized exchange (DEX) volumes hitting record-breaking numbers. And to put a good gloss on the impressive week, Solana's daily fees rocketed to a historic high of $33.2 million, marking another milestone.
But these kinds of pumps come with risks. Fake TRUMP and MELANIA tokens scammed users out of at least $4.8 million. Then CEX giants Binance and Coinbase encountered SOL withdrawal delays, adding to the chaos.
As the action slows, Jupiter is providing another shot in the arm of Solana this week, airdropping 700 million JUP tokens worth $616 million to its community.
Here is what went down in SolanaLand between Jan. 15 and 22, 2025.
Solana Numbers the Last 7 Days
Source: CoinMarketCap
- Price: $256.53, up 37.3%
- Market cap: $124.85 billion
- DeFi TVL: $11.927 billion
- Daily active addresses: >6.6 million
- 24H trading volume: $8.31 billion
It doesn't get any more bullish than this. Solana rose to a high of $294.33 before surrendering its gains to $256.54. Bitcoin also hit a new peak of $109,180 on Trump's inauguration day. Was this a “buy the rumor, sell the news” event or are we finding new support levels to blast past $300? The coming weeks will reveal all. There is certainly work to be done.
Solana’s TVL climbed above $12 billion, marking a new historical high, and the number of daily active addresses increased to 6.6 million.
This DeFiLlama chart shows the insane growth since 2022’s doldrums.
Source: DeFiLlama
The DEX volume was a big mover, gaining 351% to reach $123.96 billion. The DEX trading volumes hit $28.2 billion on Jan. 20 and $39.2 billion a day later.
Source: DeFiLlama
Except for Mantis, most of Solana's major DEXs saw a big boost in trading volumes. Mateora notched 15,956% gains, taking its volume to $25.673 billion, while Raydium's volume shot up to $51.27 billion.
Source: DeFiLlama
How Did Solana Stack Up Against Its Competitors?
Solana led the pack as the top gainer among the top 10 cryptocurrencies. Bitcoin gained a modest 9% and reached a new high. XRP continued its strong momentum from last week, picking up nearly 17%.
Ethereum enjoyed a 4% gain despite the infighting within the Ethereum Foundation.
Source: CoinMarketCap
Solana’s TVL rose above $11 billion, far surpassing Tron and solidifying its position as the second-largest blockchain by TVL. Ethereum saw a slight increase in its TVL. Arbitrum crossed the $3 billion mark, wrapping up a good week for DeFi.
Source: DeFiLlama
Solana Ecosystem the Last Week
The trading volume on Solana's ecosystem increased by a crazy 55.67%, while the market cap neared $900 billion. A $1 trillion Solana ecosystem is within sight!
Source: CoinMarketCap
It is a red wave of green in the Solana ecosystem, with a few outliers notching some gains.
Source: CoinMarketCap
Top Gainers:
- Raydium (RAY): +50.1%
- Chainlink (LINK): +27.94%
- Jito (JTO): +26.44%
- Aave (AAVE): +24.87%
- Ethereum Name Service (ENS): +13.79%
Top Losers:
- Grass (GRASS): -25.89%
- Terra Classic (LUNC): -9.68%
- Trust Wallet Token (TWT): -7.71%
- Oasis (ROSE): -6.54%
- 1inch Network (1INCH): -5.76%
Solana DeFi
When comparing the leading blockchains, Solana was unsurprisingly the hottest DeFi platform of the week, with its weekly TVL rising by 37% to hit $11.9 billion. Ethereum, Tron, and others saw only modest gains.
Source: DeFiLlama
Solana's share of the DeFi pie is closing in on 10%, while Tron accounts for less than 6%. Hyperliquid is making its mark but is still a long way from Solana.
Source: DeFiLlama
Solana Meme Coins
- The OFFICIAL TRUMP and MELANIA meme coins owned markets this week, before dumping.
- Established Solana meme coins and AI agents saw a steep decline as the Trump couple drained all the liquidity from altcoin markets. Bonk, Fartcoin, Gigachad and Fwog were rare exceptions.
Source: CoinMarketCap
Top Gainers:
- OFFICIAL TRUMP (TRUMP): +545.2%
- Boba oppa (BOBAOPPA): +52.47%
- Fartcoin (FARTCOIN): +37.26%
- Fwog (FWOG):+18.31%%
- Bonk (BONK): +17.66%
Top Losers:
- Official Melania Meme (MELANIA): -46.87%
- Peanut the Squirrel (PNUT): -37.31%
- Goatseus Maximus (GOAT): -25.71%
- Moo Deng (MOODI): -25.59%
- Ponke (PONKE): -24.92%
Solana DePIN
Source: DePIN Scan
- There was no respite for Solana's DePIN tokens, with only io.net and Helium Mobile (MOBILE) managing to stay in the green.
- Grass (GRASS) suffered the biggest losses while others lost at least 3%.
NFTs
- Solana continued to dominate the JPEGs market, capturing three out of every 10 NFT users.
- Base surpassed Ethereum, claiming the second spot with 18.9% of the total NFT user share.
Source: NFT Pulse
Top 5 Solana News Stories
Solana Reaches Multiple All-Time Highs
Solana set new all-time highs in price, TVL, and daily fees.
Binance and Coinbase Struggle with Solana Withdrawals
Binance and Coinbase faced delays in Solana withdrawals as high transaction volumes spiked following the launch of Donald Trump’s meme coin on Solana.
Solana Hits Record Daily Fees
Solana’s daily transaction fees rose to a record $33.2 million, driven by high trading activity.
Fake Trump Meme Coins Net $4.8M
Scam projects imitating TRUMP and MELANIA tokens raised $4.8 million from thousands of wallets.
Tapestry Raises $5.75M in Series A Funding
Tapestry, a Solana-based social graph protocol, secured $5.75 million in Series A funding, co-led by Union Square Ventures and Fabric Ventures.
What You Can Do Now
- Safeguard your investments as Solana recalibrates following all-time highs in price, TVL, and daily fees.
- Explore DEXs as CEXs face strain under heavy load.
- Stay alert to new tokens as scammers target unsuspecting investors.
- Uncover where smart money is flowing in the Solana ecosystem to make more informed investment decisions.
- If you have multiple wallets that received a Jupiter airdrop, consider staking some to get new airdrops and support the ecosystem.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
