The Ethereum Foundation launched the Mekong testnet to allow developers to explore user experience (UX) and staking updates for the upcoming Pectra fork.

Daily Top Performer — Cetus Protocol (CETUS)

The S&P 500 gained 0.74% to a record high, driven by optimism over the Fed’s rate cut and potential tax cuts. Major tech stocks, including Tesla, Nvidia, and Apple, led the gains. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 1.07%, with Bitcoin and Ether rising by 0.51% and 7.59%, respectively in the past 24 hours.

Today's top performer is CETUS, which surged 23.6% following the Cetus upgrade that allows users to effortlessly switch between multiple Sui wallet addresses.

Cetus Protocol (CETUS), founded in 2022, is a decentralized exchange on the Sui Network, using concentrated liquidity and Position NFTs to enhance efficiency. The CETUS token rewards users for participation and governance. 

, allowing users to connect multiple Sui wallet addresses at once and easily switch between them within the interface. This eliminates the need for repeated wallet clicks, providing a smoother and more flexible experience in Sui DeFi.

Check Out the Latest Prices, Charts, and Data of 

 to allow developers to explore user experience (UX) and staking updates for the upcoming Pectra fork. Mekong, a short-term testnet, includes all the Ethereum Improvement Proposals (EIPs) for Pectra, enabling testing of changes to UX, staking, deposits, and exit mechanisms. The testnet helps developers experiment and provide feedback, while stakers can preview workflow changes. Mekong does not impact the Ethereum mainnet or other testnets but will inform the deployment of Pectra upgrades across Ethereum networks.

Yesterday, total BTC Spot ETF volume was 236.3, with 7.3 from GBTC and 229.0 from non-GBTC sources.

, offering a commemorative badge for completing free tasks. To claim, get testnet tokens, connect your EVM wallet, and complete social tasks. Available for one week; a Gitcoin Passport score of 20+ is required. Story recently raised $140 million, backed by A16z and others.

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Ethereum Launches Mekong Testnet to Preview Pectra Fork Upgrades

Rollups-as-a-Service streamlines the deployment and management of L2 scaling solutions. Learn more about how it works in this article.

Scalability, high transaction costs and congestion are some of the significant challenges that blockchain networks face. Rollups-as-a-Service (RaaS) aims to address these issues by streamlining deployment and management of 

. This article will explore what RaaS is, how it works, its benefits and drawbacks, some of the leading RaaS projects and the future of this transformative technology in the blockchain ecosystem.

Rollups-as-a-Service describes platforms that enable developers to deploy and operate tailored rollups without managing complex back-end infrastructure. These platforms provide developers with SDKs or dashboards for easy integration.

 streamlines the deployment of Layer 2 scaling solutions, known as 

, which enhance blockchain performance. RaaS platforms enable the creation of custom rollup chains that bundle numerous transactions into single batches, which are then processed off the main blockchain (

). This consolidation optimizes speed and reduces costs.

These platforms offer a comprehensive suite of development tools, including software development kits (SDKs) and templates, which streamline the initial setup process for projects onboarding with a RaaS provider. This ease of access allows 

 projects to quickly get up and running with the necessary infrastructure in place.

Developers can tailor their rollup chains according to specific project needs. This includes fine-tuning aspects, such security measures, network capacity, transaction fees and overall performance. Such flexibility ensures that each project can optimize its rollup chain to meet unique requirements and operational goals.

The modular nature of RaaS platforms allow for the smooth integration of various components, such as the data availability layer, sequencer and settlement layer. It also supports third-party tools, including 

, enhancing the overall functionality and user experience of the rollup solutions.

RaaS platforms also offer robust monitoring and maintenance services. They continuously monitor the performance and security of rollup solutions to ensure they operate optimally. This proactive approach helps in maintaining the integrity and reliability of rollup chains, providing peace of mind to the projects using these services.

As projects grow and evolve, RaaS platforms provide the necessary support to scale their rollup chains. This includes managing increased traffic and transaction volumes, as well as optimizing speed and efficiency. These platforms ensure that rollup solutions can handle growth seamlessly, allowing projects to focus on their core objectives without worrying about technical limitations. 

Rollups-as-a-Service platforms provide easy onboarding, extensive customization, modular integration, scalability and continuous monitoring, empowering projects to deploy robust and efficient rollup chains tailored to their specific needs. As with every other useful tool, they also have their drawbacks.

Rollups-as-a-Service (RaaS) platforms are pivotal in scaling blockchain applications by providing Layer 2 solutions. Here’s a brief overview of some of the best RaaS projects. 

Alembic is a web3 development platform powered by 

 that enables users to build and operate games and applications. It provides a comprehensive stack of tools and services to create innovative projects in the web3 space without hassles. The project’s forte lies in its focus on ease of development and modularity, enabling the creation of bespoke blockchains with little overhead. 

 is a decentralized and elastic RaaS protocol that empowers developers to launch appchains (application-specific blockchains) It offers a unique approach, compared to traditional RaaS platforms, by providing a more decentralized and flexible solution. 

, is used as an economic bond alongside restaked assets to provide an economic stake that can be subject to penalties in cases of detected malicious behavior. ALT bestows holders with governance rights, allowing them to vote on decisions within the AltLayer ecosystem. AltLayer features an 

 that can handle surges in transaction processing requests, improving user experiences and minimizing fees.

 specializes in high-performance, customizable and application-specific Layer 2 blockchains. These Caldera chains offer high throughput, low latency and customizable features for optimizing DApp performance. Developers can choose any token as the native, fee-paying token of their chain, providing greater customization and alignment with their ecosystems. 

Caldera leverages data availability solutions such as 

 to slash transaction fees by up to 100 times as compared to traditional methods. 

 offers a managed service that helps developers easily and quickly deploy their applications to 

, a Layer 2 blockchain network that provides 

. The all-in-one platform is packed with powerful tools that allow anyone to deploy a rollup in minutes via a self-serve feature without needing any coding knowledge. 

Conduit primarily caters to enterprise clients, allowing them to rapidly deploy on the mainnet and focus on product development, rather than fiddling with security and 

 is a set of software components for building L2 blockchain ecosystems, developed by the 

 to power Optimism. It permits the creation of interconnected chains within a network called the 

OP Stack is known for its modular approach, allowing developers to build scalable and decentralized applications efficiently without compromising security. The OP Stack ecosystem is powered by OP, its native utility token. This token is used for transaction fees, governance, incentives and funding public goods within the Optimism network. 

 is a ZK-Rollup-as-a-Service platform that enables internet-scale DApps with a strong emphasis on privacy and security. It provides users with the tools to host and scale their own private decentralized network, catering to a wide range of applications — from fully on-chain games to transaction-intense 

 apps. Snapchain focuses on privacy, security and scalability, enabling developers to effortlessly expand their private decentralized networks, a crucial prerequisite for applications that demand high throughput and data privacy.

 is a blockchain technology company that specializes in the development of micro-rollups. These are designed to scale web3 applications by breaking up the rollup monolith into smaller, more manageable pieces that can be combined to serve a larger purpose. Stackr enables developers to build app-specific rollups using Web 2.0 programming languages like Python or JavaScript, making it easier for them to create scalable and decentralized applications.

 is a one-click rollup deployment framework that lets users design and manage scalable infrastructure with ease. It facilitates the rapid deployment of customizable rollups, streamlining the process for developers to compose, build, test, iterate and succeed in their projects. Vistara is also integrated with the NEAR ecosystem, facilitating multichain deployment of rollups and accelerating blockchain innovation. 

 token, VISTARA, serves various functions, such as governance, transaction fees and incentivizing participation within the network.

 is a blockchain deployment and management platform that specializes in RaaS. It provides a low-code, scalable and enterprise-grade infrastructure for ZK-rollups and OP Stack Rollups, catering to the needs of blockchain startups, enterprises and web3 developers. Zeeve’s platform enables users to build, customize and launch production-grade rollups, which are essential for scaling blockchain applications while maintaining security and decentralization. 

The platform’s support for both ZK-rollups and OP Stack Rollups offers flexibility and choice for developers, based on their specific application requirements.

Rollups-as-a-Service is poised to become a transformative force in the blockchain ecosystem. As the demand for scalable and efficient blockchain solutions grows, RaaS is expected to play a pivotal role. Following are some of the key aspects that will shape the future of RaaS.

Rollups-as-a-Service (RaaS) platforms are revolutionizing blockchain scalability by providing customizable, managed rollup solutions. They offer significant transaction throughput and cost reductions, encouraging innovation and simplifying DApp development. Despite potential centralization risks and initial liquidity challenges, RaaS is integral to the future of efficient and scalable blockchain ecosystems. 

Intermediate

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Rollups-as-a-Service (RaaS): A Gateway to Scalable Blockchain Solutions

The GameFi sector, a fusion of gaming and finance utilizing blockchain technology, is currently valued at approximately $20.3 billion.

The GameFi sector, a fusion of gaming and finance utilizing blockchain technology, is currently valued at approximately $20.3 billion. This figure represents a notable recovery from a low of $19.6 billion at the start of 2024, and a substantial increase of 35% since its nadir in August. Although the market cap is below its peak of $38.3 billion, reached in March 2024, the current valuation illustrates the sector's resilience and growing appeal among gamers and investors alike.

The traditional video game market, valued at $196 billion in 2023, continues to dwarf the GameFi sector. However, increasing interest in financialized gaming experiences indicates substantial room for growth within GameFi. The sector's ability to attract players through new economic models that allow them to earn financial rewards while playing is a fundamental shift in how gaming is perceived. As GameFi continues to evolve, it has the potential to capture a larger share of the broader gaming market, especially as traditional gaming companies explore 

Market dynamics suggest that while GameFi is still in its infancy, the integration of financial elements into gaming is fundamentally changing player interactions. This shift is underscored by the fact that the GameFi index, which aggregates the market cap of the top 15 GameFi tokens, has outperformed major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) over the past year, achieving over 160% growth compared to 119% for BTC and ETH combined. Such performance metrics highlight GameFi's potential as a sustainable investment opportunity, even amidst the volatility characteristic of the broader crypto market.

One significant factor contributing to the GameFi sector's growth is the sheer number of available games. Currently, there are around 3,500 

, with approximately 700 of them maintaining active daily users. This level of engagement showcases both the increasing interest in decentralized gaming experiences and the potential for ongoing user retention. Prominent blockchain networks like BNB Chain, Ethereum and Polygon lead in terms of number of games developed, with Polygon currently surpassing Ethereum in active user counts, suggesting a competitive landscape that’s still evolving.

The success of specific titles within the GameFi ecosystem further illustrates this trend. Games such as 

 are among the leading titles by market cap, attracting millions of active users. For instance, 

, a pioneer in the play-to-earn (P2E) model, has demonstrated the viability of blockchain technology in creating sustainable gaming economies. 

As players continue to seek opportunities to earn while they play, the demand for engaging and rewarding gaming experiences is likely to drive further innovation and competition within the sector. 

Moreover, the performance metrics of the GameFi index indicate a robust interest in financialized gaming experiences. With over 60% of the market cap comprising the top GameFi tokens, the index serves as a barometer for investor sentiment and market trends. As developers continue to innovate and enhance gameplay mechanics, it’s expected that these metrics will trend upward, fostering a more vibrant ecosystem that attracts both gamers and investors.

The rise of mobile gaming is one of the most significant trends shaping the GameFi landscape. Traditionally, web3 interactions were more suited to desktop environments, but the recent focus on user-friendly designs has led to the emergence of mobile-focused games. This shift is exemplified by the integration of Telegram's mini apps, which have attracted users to simple yet rewarding games such as 

. These developments indicate a broader trend toward making blockchain gaming accessible to a wider audience, especially those who may not have prior experience with cryptocurrencies or complex blockchain systems.

Additionally, the anticipated entry of AAA titles into the GameFi space represents a crucial turning point for the industry. High-quality games that prioritize engaging gameplay over financial incentives are expected to attract a more diverse player base. As traditional gaming studios begin to recognize blockchain tech’s potential, investments in innovative gaming experiences are likely to increase. This transition not only enhances the overall quality of GameFi offerings, but also helps bridge the gap between traditional Web 2.0 gaming and the emerging web3 landscape.

The GameFi ecosystem is characterized by its diversity, with various genres catering to different player preferences, from P2E mechanics to immersive metaverse experiences. As developers shift their focus toward creating more intricate and rewarding gameplay, the potential for growth within the GameFi sector remains substantial. The integration of social elements, community engagement and user-generated content further enriches the gaming experience, fostering a vibrant community of players who can drive sustained interest and investment.

In conclusion, the GameFi sector is poised for significant growth as it evolves and adapts to changing market dynamics. With a strong foundation, increasing user engagement and a diverse range of gaming experiences, GameFi is well-positioned to redefine the boundaries of gaming and finance in the coming years.

Advanced

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GameFi: Reviving the New Era of Gaming

Our weekly crypto derivatives analytics report dives into macro events, the current state of crypto and trading signals from spot trading volume, and futures, options and perpetual contracts.

As the 2024 U.S. election results became apparent, short-term implied volatility for both BTC and ETH fell sharply. The term structure for BTC flattened, while ETH's evolved into a steep curve. Leveraged positions, which were reduced during the pre-election volatility, have since recovered, resulting in increased open interest in both perpetuals and futures. Even after the event risk has passed, positioning in all markets is near all-time highs, suggesting that traders are eager to maintain leveraged long exposure as BTC reaches record levels.

Please check out the report’s highlights.

Traders Maintain Leveraged Long Post-Election

Last week, futures open interest saw a significant drop as traders closed out leveraged positions in anticipation of the election amid pre-election price volatility. However, following a brief period of calm before the results were announced, open interest levels quickly rebounded, indicating a swift return of leveraged positions and a renewed willingness to take on risk. BTC continues to lead in futures positioning, as it does across all derivatives markets, indicating that a shift of capital into ETH contracts has yet to occur. In contrast to the trend of decreased activity, trading volumes remained robust even over the weekend.

Perpetual swap open interest reflected the trends seen in listed-expiration futures in the week leading up to the election and during the night of the event. Initially, positions gradually declined amid pre-election volatility, but surged sharply as the election outcome became clearer. 

This shift suggests a renewed interest in directional bets, with traders re-entering positions to capitalize on the positive movement following the election results. Notably, weekly perpetual trading volumes remained steady and, similar to futures, were unusually high over the weekend. This sustained volume and increase in open interest indicate that market participants are actively positioning themselves in response to the growing clarity surrounding the election outcome.

BTC’s volatility term structure has recently flattened, following a prolonged inversion in the two weeks leading up to the election. This change reflects the resolution of event risk after the market's favored candidate was elected, with no indication of a contested outcome. 

Now, short-term volatility levels have dropped to align with the levels implied at longer tenors throughout the election period. Despite steady and relatively subdued trading volumes, BTC options open interest has surged significantly in recent hours, signaling increased interest in positioning for potential longer-term volatility in the aftermath of the election.

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Nov 6, 2024): Traders Maintain Long Positions as Election Risk Clears

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Memes

Altcoins

As the Solana's meme coin market booms in 2024, dive into the top Solana meme coins such as WIF, BONK, PENG, BOME, SLERF and more.

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 (SOL) meme coin niche of the crypto market continues to feature some of the strongest category growth rates, amassing a combined market cap of $8.75 billion and attracting the attention of crypto investors, including those who have previously shunned meme coins. It's easy to see why wider segments of investors and traders are paying closer attention to Solana meme coins, as these assets often feature growth rates and return opportunities that are hard to source elsewhere in the market. 

This review looks at the 13 best Solana meme coin projects, crypto assets that are part of a burgeoning and paradigm-defining category.

Over the past year (mid 2023–mid 2024), Solana has become a major competitor to 

 (ETH) for meme coin projects. The best Solana meme coins are featuring unprecedented growth rates, and two projects have already amassed market caps in excess of $2 billion. While the category is characterized by wild ups and downs, it harbors some of the best profit opportunities around for investors not shy of high-risk/high-return markets. 

Below, we review the 13 best meme coins on the Solana network, crypto assets that are quickly transitioning from being only a source of jokes and fun to becoming potentially viable investments for traders with a penchant for risk and humor.

Our review reports on market caps and prices as of Jul 26, 2024. Naturally, given the volatility of meme coins in general, the precise figures may change past our review date.

 (WIF) is the current leader of the Solana meme coin rankings. Launched in November 2023, WIF features a picture of a cute dog wearing a hat. WIF is among the earlier Solana meme coins that have driven the rise in its blockchain's popularity for these assets since late 2023/early 2024.

Until late February 2024, WIF had been a relatively minor coin within the overall crypto industry and Solana ecosystem. At the tail end of February, the coin began to rapidly appreciate, igniting the initial sparks of the Solana meme coin frenzy. Between Feb 24, 2024, when it traded at a level slightly below 30 cents ($0.2974), and Mar 31, 2024, when it climbed to an all-time high (ATH) of $4.83, the coin grew by 1,524% 

 a spectacular growth rate that WIF owes both to its enthusiastic user community and the overall rise in interest in Solana meme coins.

Although WIF's price has retreated from its March/April highs, it maintains a category-leading market capitalization of around $2.58 billion, trading at $2.59 on Jul 26, 2024.

 (BONK) is often referred to as the original dog-themed Solana meme coin. Although its launch occurred well before the active phase of the Solana meme coin mania, which only set in on a grand scale in early 2024, BONK was the first coin to help popularize Solana as a key alternative to Ethereum for meme coin issuers.

The entire first half of 2024 proved to be highly successful for the coin. In early March 2024, at a time when Solana-based meme coins were taking the market by storm, BONK reached its ATH of $0.00004547. It then quickly dropped off these highs, but was back hovering around the $0.00004 level by late May. It currently trades at $0.000028, and has the second-highest market cap among Solana meme coins at around $1.97 billion.

 (POPCAT) is a cat-themed project that allows users to create and share their own meme coins. The coin is based on a viral internet meme depicting a cat named Oatmeal. In the meme, Oatmeal's image with an open mouth is edited to shape it like the letter “O”. Popcat also features a simple clicker game where you 

 to let its mouth pop “O”, with the clicks added in real time to accumulate as part of a worldwide total.

Launched in December 2023, POPCAT began climbing confidently in price and market cap rankings in March 2024. However, it wasn't until July 2024 that the coin entered the top echelon of Solana meme coins. On Jul 21, 2024, POPCAT nearly approached the psychologically important $1 billion market cap level. 

Its current market capitalization is $846.5 million, and it’s the third-highest-capped Solana meme coin, behind WIF and BONK. POPCAT's current price is $0.8488.

 (MEW) is a meme coin created to overthrow the dog-dominated meme coin world. MEW's spellbinding story — its cat character as superhero, seeking to save his friends from the evil dogs reigning over a futuristic world — and its innovative tokenomics have piqued the interest of investors. MEW’s tokenomics are cleverly crafted to boost its potential value by burning 90% of its total token supply as 

Launched in late March 2024, MEW is a newer player in the Solana meme coin niche. Within five days of its launch, it skyrocketed to a market cap of $685.2 million. While it slumped shortly after achieving its ATH in March 2024, MEW recently emerged as one of the 

 in July 2024 to become the fourth-biggest Solana meme coin project by market cap. MEW currently trades at $0.0077 and has a market cap of $685.43 million. 

 (BOME) project aims to provide a platform for storing and sharing memes. As such, Book of Meme is quite different from most other meme coins, thanks to its meaningful real-world functionality.

Similar to MEW, BOME was launched in March 2024, surprising both crypto analysts and the Solana community when its market cap catapulted from virtually nothing on the day of launch (Mar 14, 2024) to over $1 billion just three days later. Since its spectacular debut in mid March, BOME has been among the highest-capped Solana meme coins. Although the coin no longer features those +$1 billion market cap levels, it's still among the leading coins in the niche, with a current cap of $571.66 million. BOME currently trades at $0.00818.

While dogs and cats seem to be the most popular animals for Solana meme coin themes, monkeys and apes — traditionally revered in the crypto community since the days of the Bored Ape Yacht Club (BAYC) — have been going nowhere.

 (PONKE) is a Solana meme coin themed around a monkey described as a "degenerate gambler with anger issues." The coin was launched in late December 2023, and soon afterward it received endorsements from crypto influencers and fervent support from its social media fan base — the “Ponke army.” 

In early May 2024, PONKE's price and market cap grew rapidly, quickly establishing it as one of the leading players in the Solana meme coin market. On May 9, 2024, the coin's market cap stood at just $65 million — and only two and a half months later, by Jul 26, 2024, that figure had grown nearly fivefold to reach $312.4 million. PONKE currently trades at $0.5964.

 (BILLY) is a meme coin represented by a cute puppy named Billy, a playful twist on the word "billions," as it aims to be worth "

ions." It was launched recently (mid June 2024), and started making waves within two weeks of its launch, shooting up from a low of $0.0266 on Jun 27, 2024 to reach $1.19 by July 6. BILLY continues to stay strong in its uptrend, achieving an ATH of $0.2315 as recently as Jul 21, 2024. Currently, it’s the eighth-largest Solana meme coin by market cap at $172.05 million, trading at $0.1865.

Remarkably, BILLY achieved this success without any apparent use cases or activity on its website, which is developing a Billy meme generator. Users can create their own memes to further enhance the coin’s appeal within the community. When this generator bot is unveiled, BILLY is expected to jump to new heights — and possibly take a seat among the top five Solana meme coins.

 (MICHI) is a Solana meme coin themed around a cute cat named Michi. The Michi cat is depicted in numerous memes on the project's website, wearing various outfits, reading a book and playing musical instruments.

Launched in April 2024, MICHI started attracting the attention of meme coin traders the following month. By late May, the coin's market cap nearly touched the $200 million mark before intense competition in the field led to a fourfold decline to about $50 million one month later. By late July, however, MICHI was confidently on the way up, recovering to a market cap of $159.9 million. The MICHI coin currently trades at $0.2818.

If the avalanche of cat- and dog-themed meme coins has become boring for you, you might like the bull-themed Mumu the Bull (MUMU) coin. While it’s a classic meme coin without real-world utility, Mumu the Bull still pursues a noble and rather rebellious mission: "To dethrone the establishment and forge the ultimate decentralized currency."

Launched in March 2024 at a time when many other Solana meme coins hit the market, MUMU attempted to ride the wave of the niche's popularity. Between its launch and our review date, the coin has largely been on a long-term uptrend, although with frequent local ups and downs in its price journey. While many Solana meme coins are off their historical peaks, achieved either in March/April or late May 2024, MUMU is scaling heights it hasn't seen before. MUMU hit its new ATH of $0.00007819 just a day ago and currently trades at $0.00007306 with a market cap of $165.49 million.

 (MYRO) is yet another dog-themed Solana meme coin. The coin was inspired by Myro — the dog of Solana's co-founder Raj Gokal. The Myro project is distinct from the majority of other Solana meme coins because it features some crypto products with real-world utility. For instance, Myro’s team has released the first crypto-buying bot for Telegram, the Myro Buy Bot. There are also plans for the future release of a SocialFi mobile app.

Released in November 2023, MYRO reached its pinnacle of success in early March 2024 when its ATH surged to $0.4428, with the coin posting its record-high market cap of slightly over $400 million. By the time of this review, MYRO is trading at $0.144, with a market cap of $148.05 million. While never the exclusive leader of Solana meme coins, MYRO has consistently maintained its ranking around the tail end of the top 10 of these cryptos.

 (WEN) is a Solana meme coin themed around a robotic cat. WEN has leveraged the concept of 

 to come up with something quite unique — every WEN holder is entitled to a fractional NFT that’s part of a poem called "A Love Letter to Wen Bros.” The poem was written by 

, the founder of the Jupiter DEX. Meow originally posted the poem on X and turned it into an NFT with fractional ownership.

Launched in January 2024, and at its peak in March, WEN crossed the $360 million mark in market cap. The coin has dropped off these highs since, currently featuring a market cap of $105.56 million and trading at $0.00014.

 (MANEKI) is a meme coin project inspired by the famous Japanese 

 figurine in the form of a cat waving its arm. The figurine is said to bring good luck, wealth and happiness. Launched in April 2024, MANEKI is a relatively new player in the world of Solana meme coins. Less than two months after its launch, in early June, the coin recorded a market cap of over $170 million, becoming a notable player in the niche.

Similar to many other meme coins, MANEKI has retreated from its earlier highs by now. It currently has a market cap of $88.05 million, and is trading at $0.010.

The inventive mind of Solana meme coin issuers has something for fantasy lovers as well: the 

 (ORC) project has departed from the tradition of dedicating coins to animals, and instead has themed their meme coin on a legendary orc who loves to collect gold.

Launched recently on Jul 12, 2024, ORC began rallying just a week later to reach an ATH of $0.01816 by Jul 21, with its price maintaining this level. This was a significant success for the coin, a relatively low-cap asset compared to the meme coins we've covered above, with a current market cap of nearly $15.67 million.

Think you know all about Solana meme coins? Till Aug 4, 2024, you can join the 

What to Consider When Investing in Solana Meme Coins

Evidently, Solana meme coins can make you rich overnight. However, similar to other projects in crypto, high returns carry high risks. As such, keep the following considerations in mind when buying Solana meme coins.

While meme coins provide a lucrative avenue to make riches, they’re also filled with pump-and-dump projects and 

. You can potentially lose your assets in the blink of a second. Therefore, with meme coins, gauge your 

 and consider whether you’re prepared for any losses.

It’s true that very few meme coins have any actual use cases. You’ll need to 

 the specific project's vision and learn whether it’s promising and can impact the crypto space. 

You may find that some of these projects have sparse information — which, in most cases, is a red flag.

, a strong community (or an “army”) is needed to create buzz around the project. You can visit the project’s social media pages, especially X, Discord and Telegram, to see what the community says about the project.

Diversification is key when investing. With meme coins, invest no more than you’re willing to lose. To cushion yourself, invest in other crypto assets, such as 

The meme coin narrative is quite sensitive to market movements. Watch how the crypto market is performing, especially 

, since meme coins respond heavily to how these assets move.

 (CEXs). We highly recommend Bybit, which provides a user-friendly platform with advanced security measures for you to trade meme coins. You can also buy these meme coins through Solana DEXs, such as 

, or through Solana wallets like Phantom.

The Solana meme coin mania hasn’t gone unnoticed by the crypto community. It’s brought attention back to Solana, a leading blockchain in the web3 space due to its scalability and its fast and cheap transactions.

These meme coins have proven that a strong community spirit coupled with technological innovation can lead to limitless possibilities. However, meme coin investors need to understand the psychology of meme coins, and appreciate that they’re high-risk assets. Regardless, let’s keep an eye on the Solana meme coin space as the bull run continues to unfold.

All trading carries risk. Only risk capital you can afford to lose.

13 Top Solana Meme Coins Worth Noting in 2024

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