Demex Daily #153: Record Meme Coin Surge on Solana Triggered by Roaring Kitty’s Return

What’s Interesting Today:

The resurgence of Keith Gill, known as Roaring Kitty, spurred a wave of meme coin creation on Solana via the platform pump.fun. Following a meme posted by Gill, 14,500 meme coins were launched in one day, marking a record for the platform. Examples include GME Stonks and GameOver. Pump.fun, which allows meme coin creation for 0.02 SOL, saw continued activity with over 7,400 tokens created the next day. The platform has generated significant revenue from these launches since its January inception, totaling around 127,000 SOL ($19 million). The phenomenon coincided with a surge in GameStop's stock price and a token mimicking GameStop's ticker saw a 1,700% increase.

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BounceBit has officially launched its Mainnet, achieving significant milestones since its initial rollout in January 2024. The platform has successfully locked around $1 billion in Total Value Locked (TVL) and attracted nearly 400,000 early contributors. New functionalities, including a dual-token Proof of Stake system, liquid staking, and Premium Yield Generation, are now accessible through its portal. The BounceBit Mainnet allows for yield generation through BTC and USD stablecoins and introduces Liquid Custody, which keeps user assets liquid while secured. Additionally, BounceBit's ecosystem expansion includes the BounceClub, a Web3 universe with customizable clubs and an App Store offering various Web3 apps. The future focus will be on growing the ecosystem and enhancing the infrastructure with new staking capabilities.