Solana TVL hita ATH at $12b after TRUMP and MELANIA launch

Solana hits new all-time highs in TVL and DEX volume after TRUMP and MELANIA’s explosive crypto market debuts.

According to data Since DeFi Callthe Solana (GROUND) the network’s total value locked reached a new all-time high of over $12 billion on January 19. This is the first time Solana’s TVL has crossed the $10 billion threshold since November 2022.

Not only that, Solana’s DEX volume also reached consecutively historic highs during the weekend. Solana’s DEX volume reached $28.2 billion on January 18 and $39.2 billion on January 19. In the DEX volume rankings, Solana took the top spot, with a whopping 320% increase in the last week.

At the time of writing, Solana price is down almost 8% to $238.47 in the last 24 hours of trading. However, on January 19, the token reached $261.78.

Solana’s TVL increase was over $12 billion, representing an increase of almost 50% over the past seven days. It first crossed the $10 billion mark on January 18, the day after Donald Trump first officially launched his official meme coins. On January 19, Solana’s TVL reached a high of $12.19 billion.

On January 20, Solana managed to maintain its TVL at $12 billion, before dropping slightly on January 21 to $11 billion. At the time of writing, the Solana MEV Jito Foundation is leading the charge with the highest TVL, followed by other major protocols including Jupiter, Raydium, and Kamino.

Overall, Ethereum still holds the crown in first place, with Solana trailing behind in second place. Ethereum’s TVL stands at almost $65 billion, while Solana’s TVL stands at $11 billion. However, while Solana’s TVL has seen an increase of over 33% over the past month, Ethereum’s TVL has decreased by almost 5%.

Did TRUMP and MELANIA Fuel Solana’s Rise?

Solana is well known for being the go-to crypto for meme coins, and the official Trump family meme coins are no exception. ASSET (ASSET) and MÉLANIE (MELANIE) are both Solana-based tokens whose market cap reached billions in just three days after their launch.

As Solana’s TVL dropped, so did the price of TRUMP and MELANIA tokens.

According to data According to crypto.news, in the last 24 hours, TRUMP fell 26%, from $74 to just $37.50. MELANIA suffered a fall almost twice as big; plummeting 47%, from $13 to just $4.48.

Besides TVL, the influence of presidential meme pieces can also be seen in Solana’s DEX volume. As before reported According to crypto.news, Solana volume in the decentralized exchange sector also reached record levels on January 19, reaching $19.47 billion.