This thread provides a step-by-step guide for finding potential winning memecoins early using Photon on Solana. While this low-liquidity method may result in losses, it is possible to generate significant returns with memecoins. Key strategies include screening for risk profile, ignoring copycats, assessing community activity, and never fully exiting a successful coin. Success with this method depends significantly on broader market conditions.
Monday, March 25, 2024Circle is partnering with Solana to introduce its cross-chain transfer protocol to the ecosystem. Circle’s CCTP enables the secure trading of USDC between various blockchains using a native mint and burn process. This move will enable Solana developers to natively swap USDC tokens from Ethereum and other EVM-compatible ecosystems. Various Solana ecosystem participants will support CCTP right away and more are expected to follow.
Bitcoin was the first real memecoin, its narrative buoyed by skepticism of central banking and institutional trust erosion. However, the memecoin space has evolved to encompass thousands of other coins, boosted by shifting crypto trends and attention economics. Solana recently illustrated this with its high density of rapidly growing memecoins. However, this has led to challenges with Solana's blockspace allocation, transaction inclusion, and a rise in 'MEV' or Maximum Extractable Value. Bitcoin now looks set to experience its own MEV surge driven by an influx of memecoin-driven activities. This highlights a need for deeper discussion on managing such complexities in the broader non-EVM ecosystem.
PYUSD just launched on Solana, extending its presence from Ethereum to increase adoption and reduce gas fees and faster transactions. This strategic expansion aims to transition PYUSD from mere awareness to actual utility by incorporating innovative blockchain features that improve payment security and efficiency, enabling its integration into everyday commercial use.
PYUSD, which expanded to the Solana network in May, has surpassed $500M in market cap. The stablecoin's expansion to a mix of centralized and DeFi platforms has helped increase its supply from $270M to over $530M in 1 month.
Marginfi has launched The Arena, enabling users to long or short any token on the Solana blockchain with leverage.
A recent analysis of top trading pairs on Uniswap (Ethereum and Base) and Raydium (Solana) revealed that Solana has a significantly higher volume per dollar of TVL compared to Ethereum, with Base close behind.
The PayPal stablecoin PYUSD is live on Solana. PayPal has over two decades of payments experience, and is now making low-cost, high-throughput web3 payments possible through the PYUSD on Solana launch.