The cryptocurrency market certainly struggles with consistency just four months after the new year. Furthermore, this has caused quite a concern for MemeCoinMarket. However, that could be changing as daily memecoin trading volume increased by $1 billion in May as Solana dominated the activity.
Development shows that asset classes on the Solana network may be tracking Bitcoin. In fact, major cryptocurrencies surged to an all-time high of $111,000 this week in a historic jump. Now it could be driving many other digital assets as well.
Solana Memecoin trading volume jumps 46% between April and May
Entering 2025 there were few cryptocurrencies where Solana had such hype. The token was set up to be subject to some ETF filings. Additionally, the investment vehicle was ultimately approved, making it more likely that they would soon join Bitcoin and Ethereum. Furthermore, it stood as one of the largest sources of meme coins in the industry.
Regardless of what you think of the Memecoin sector, its popularity cannot be denied. It was a huge thing for the entire network as it continues to drive traffic and participation. In fact, it took another big step this month. This was the dominant activity in May when the Solana Memecoin Daily Alage Trading Bolument jumped to $1 billion.
According to BlockWorks data, Solana saw an average daily trading volume rise by 46% since April. Plus, this month it reached $58.7 billion worth. It continues to reiterate the importance of asset classes having for blockchain. In fact, MemeCoins accounted for more than 64% of May trading volume in Solana from 56%.
In early May, when Bitcoin broke the six-figure mark, the Solana Meme Coin Activity surged to a height of $4.2 billion. That number proved to be the highest mark since February this year. Additionally, we confirmed that asset classes are run with a surge in BTC. That’s very good for the network as the major cryptography is projected to reach $135,000 high.