Solana News Update: Solana Applications Surpass Ethereum as Meme Coins Lose Momentum

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Recently,

coin trading activity within the (SOL) and Binance Smart Chain (BSC) networks has slowed, with most tokens fluctuating within a tight range of under 6% over the last day. Data from shows that while the market values and holdings of leading meme coins on these chains have varied, there has been no major price turbulence.

Among the top tokens by market cap, The TRUMP (valued at $7.8 billion) slipped 6.6% to $7.83, whereas The Fartcoin (worth $301 million) gained 2.1% to reach $0.30. Smaller tokens such as The USELESS and JELLYJELLY posted slight increases of 1.2% and 0.8% respectively, and Binance Life advanced 3.1% to $0.169. In contrast, The 4 (market cap: $59.1 million) dropped 5.5% to $0.059, illustrating the sector’s uneven performance, according to

.

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Even though meme coins have shown subdued movement, Solana’s broader blockchain ecosystem has demonstrated strength during the wider market slump. Insights from

indicate that Solana-based platforms generated $4.33 million in revenue in the last 24 hours, outpacing Ethereum’s $1.82 million. This reverses a long-standing pattern where typically led in application revenue. Solana’s recent outperformance is credited to platforms like Pump.fun and , which have kept user engagement high despite falling to $151.90, a 5.4% decrease for the day .

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Mixed trends are also seen with tokens like The TRUMP, which has attracted attention for a possible recovery. Both on-chain and derivatives data point to rising open interest (now at $328 million) and trading volume ($1.8 billion), indicating increased speculative activity. Experts suggest that if The TRUMP remains above key support levels ($7.95 and $6.73), it could aim for a rally to $11.92, its July peak. However, if it falls below $6.73, a further drop to $5.50 is possible, according to

.

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The limited price movement in meme coins highlights a cautious sentiment across the market. Investors are monitoring whether institutional investments in Solana ETFs—despite a recent slowdown—will help stabilize the ecosystem. Meanwhile, the absence of sharp price changes in meme coins points to a consolidation phase, with traders waiting for new developments that could emerge in 2025, according to

.