According to CoinGecko data, Solana has held the lead since the first quarter of 2024. The success of the network is due to the popularity of the Pump.fun platform, where memcoins are created based on Solana. As of November 14, the volume of tokens issued amounted to 3.26 million. The Base blockchain also benefited from the growing trade in memcoins, due to which it was able to gain a foothold in second place.
Ethereum has dropped to third place in popularity among users, with just 10.8%. Since the first quarter, Ethereum’s traffic share has decreased by 1.9%. According to analysts, the decline in blockchain popularity is likely due to the fact that Ethereum does not attract much hype, and interest in it is fragmented between second-tier networks.
Overall, the top 20 blockchains attracted 97% of all investor interest. The remaining 3% was distributed among 47 other blockchains, experts concluded.
Earlier, The Block reported that Solana’s price growth above $200 was made possible due to the high activity of memcoins supporting the ecosystem and a strong community of asset holders.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
