Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Cat-themed token POPCAT and dog-themed WIF jumped 25%, while smaller tokens MUMU and CATDOG were up 30%.Memecoins on the Solana ecosystem surged more than 30% in the past 24 hours, leading gains in the crypto market, as the network’s underlying token SOL, recovered from losses from earlier in the week.
The ecosystem activity came as SOL rose 7.5%, trading over $150 in European morning hours on Wednesday to beat the broad-based. It fell from $145 to as low as $112 on Monday amid a broader market rout but has since led gains among major tokens. “The possibility of an SOL ETF shows promising signs to investors on SOL’s mainstream adoption,” Lucy Hu, senior analyst at Metalpha, told CoinDesk in a Telegram chat. “The quick rebound of SOL indicates renewed confidence in the broader crypto space as the market becomes more stabilized,”
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