Layer-1 blockchain Solana is celebrating its fifth year since its mainnet launch in 2020 — becoming one of the biggest chains by transaction activity and one of few select cryptocurrencies included in a proposed US digital asset stockpile. Since the first Solana block was built on March 16, 2020, the network has processed more than 408 billion transactions and nearly $1 trillion worth of value on decentralized exchanges — establishing itself as one of the industry’s leading layer-1 blockchains.
Several Solana memecoins such as Bonk (BONK), Dogwifhat (WIF), Fartcoin (FARTCOIN) and Pudgy Penguins (PENGU) rose to multibillion-dollar market caps in early 2024 — around the time Solana memecoin launchpad Pump.fun became one of the most popular crypto platforms for memecoin lovers. Pump.fun alone has raked in over $540 million in revenue over the last 12 months and even surpassed Ethereum over 24-hour intervals at some points.
The TRUMP memecoin briefly pushed Solana decentralized finance (DeFi) total value locked to $14.2 billion, trailing only Ethereum, DefiLlama data shows. happy 5th birthday @solana 🥳congratulations on 5 years of building & shipping the greatest tech to ever grace our industry 🫶manlets on top 🎉 pic.twitter.com/Clkv3eEpn9— pump.fun (@pumpdotfun) March 16, 2025The Solana blockchain has also become the third largest adopter for stablecoins behind Ethereum and Tron.
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Author / Journalist: Cointelegraph by Brayden Lindrea
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