DeFi News Daily Official TheBitTimes.com

The Solana price slumped 9% in the past 24 hours to trade at $236.88 as of 02:36 a.m. EST on trading volume that dropped 51% to $18.6 billion. The Solana blockchain faced significant network congestion on Monday due to the rising popularity of Donald Trump-themed meme tokens, TRUMP and MELANIA. Their respective launches over the weekend have created an unprecedented surge in transaction volumes on the Solana network. We are now witnessing the issue with Solana$TRUMP, $MELANIA, $BARRON launched, everybody is buying them, every normie, aunties, uncles literally everybody and look how the chain responds Barely any transactions comes through even with high priority fees — Koki (@k0k1mania) January 20, 2025 The overwhelming network activity led to technical disruptions for Jito Labs, a key infrastructure provider for the Solana network. As MELANIA and TRUMP continue to encounter a surge in trading volume, Solana’s ecosystem is still trying to recover. Solana On A Price Co...

Solaxy ($SOLX) has demolished expectations, raising a massive $12.4 million in its ICO following the explosive – and controversial – launch of Solana’s newest meme coin, Official Trump ($TRUMP), on January 18. The crypto world is still processing the aftermath of the stunning development after the $TRUMP token’s eye-popping 415.65x return over the weekend. That triggered surging trading volume that pushed the Solana network to its limit. Just days after trading below $200, $SOL itself is now surging past $260. The congestion on the Solana network has prompted investors to seek relief from its first Layer-2 solution, Solaxy, banking on its potential to solve this persistent issue. Originally launched on Ethereum, bridging two of the biggest DeFi ecosystems, Solaxy is now open to Solana users as well, giving investors access across both chains.  Now, Solana and Ethereum users can purchase $SOLX at $0.001608 per token for the next 44 h...