Solana co-founder Raj Gokal addressed attendees at Consensus 2024, emphasizing that user demand drives the popularity of memecoins, which offer an engaging entry point for new participants.
Solana (SOL) has emerged as a prominent blockchain for memecoin speculation. This surge in on-chain activity has positively impacted SOL prices, sparking discussions about Solana's role within the broader blockchain ecosystem. CoinGecko reports that Solana processes between thousands to millions of memecoin transactions, marking it as the fastest blockchain in this domain.
However, this trend has a downside. Developers have scammed numerous users through SOL-based memecoins, and celebrity endorsements have further fueled the craze. "We didn’t do anything to make that happen. It’s just a thing to do," Gokal remarked on the final day of Con
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First found on: Crypto news from Coinatory
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