Solana (SOL) Transaction Volume Hits 1-Year High as Memecoin Activity Booms

9 Feb 2024


Solana (SOL), a high-performance blockchain platform, has reached a significant milestone with its transaction volume surging to a one-year high. Memecoin activity has been one of the driving factors behind this surge, but can any of the Solana memecoins keep up with Meme Mogul’s token during the presale stages? Let’s jump into the details.

Solana Memecoin Activity on the Rise

Solana has risen from the ashes to become one of the most used blockchains in the market. Data from The Block shows that on-chain transactions have surged more than 700% since early December.But what may surprise you is that it is not due to its large number of decentralized applications (dApps). Instead, it’s largely due to the increase in memecoin activity on the Solana network.This trend began with BONK surging 16,500% in just two months to become recognized as Solana’s meme token. BONK was listed on major exchanges such as Coinbase and as the first Solana memecoin to gain widespread recognition.Since then, other meme tokens such as WIF and SILLY have reached $100+ million market caps as people look for the next BONK. The demand for these tokens has led to a sharp increase in transaction volume on the Solana network.

Can Solana Become the #1 Blockchain?

The rise in Solana usage reflects the platform’s fast transaction speed and near-zero fees. While it can cost $20-$50 for a swap on Ethereum’s Uniswap, it usually costs just a fraction of a cent on Solana’s Jupiter DEX.This impressive performance has led many to believe Solana could dethrone Ethereum as the #1 blockchain regarding developer activity and dApps. However, some argue that Solana’s current success is largely fueled by memecoin hype and may not be sustainable.It is important to note that while Solana has taken a monolithic approach to blockchain development, Ethereum is going for a modular approach that will take longer to build. So while Solana may have the upper hand now, the Layer-2 solutions, DA layers, and upgrades could help Ethereum regain its dominance in the future.

Meme Moguls’ Innovative Approach To Memes

Meme Moguls is the perfect destination whether you’re a meme lover, a trading enthusiast, or someone looking for a new P2E experience. Here, you can trade in a virtual market, learn trading skills from experts, and compete with others to earn MGLS tokens.The excitement is amplified by the Wealth Leaderboard, which displays the top players and motivates others to climb up the ranks. Those who get to the top of this leaderboard can become ‘Moguls’ and teach others to earn extra income.The P2E game also features a unique “Beat the Market” mode, where players are tasked with outperforming actual stock market indices. Those who excel in this mode can win various rewards, including MGLS tokens and unique NFTs that can be used within the game.
MGLS tokens can be used for governance decisions, traded for other cryptocurrencies, or staked to earn additional rewards. This multifaceted utility allows players not only to acquire MGLS tokens through their trading prowess but also to use them within the game for extra benefits.
The MGLS token is currently priced at $0.0036 during the fifth presale phase. There is an evident rush among investors to get their hands on these tokens, with over $1.9 million already raised in the first four presale phases.
With the combined market capitalization of all memecoins at $21.30 billion and a daily trading volume of $1.7 billion, the growth potential for Meme Moguls is substantial. Market analysts are optimistic, projecting that the current price of $0.0036 could skyrocket by up to 100x as Meme Moguls officially launches.
Visit Meme Moguls 
Disclaimer: The text above is an advertorial article that is not part of editorial content.

SOL (BIT:SOL) Might Have The Makings Of A Multi-Bagger

Source: Shutterstock
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. Speaking of which, we noticed some great changes in SOL's (BIT:SOL) returns on capital, so let's have a look.

What Is Return On Capital Employed (ROCE)?

If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for SOL:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.13 = €178m ÷ (€1.8b - €391m) (Based on the trailing twelve months to June 2023).
Therefore, SOL has an ROCE of 13%. That's a pretty standard return and it's in line with the industry average of 13%.
Check out our latest analysis for SOL
BIT:SOL Return on Capital Employed February 9th 2024
In the above chart we have measured SOL's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering SOL here for free.

How Are Returns Trending?

Investors would be pleased with what's happening at SOL. The data shows that returns on capital have increased substantially over the last five years to 13%. The amount of capital employed has increased too, by 58%. So we're very much inspired by what we're seeing at SOL thanks to its ability to profitably reinvest capital.

The Key Takeaway

A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what SOL has. And a remarkable 163% total return over the last five years tells us that investors are expecting more good things to come in the future. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
On a separate note, we've found 1 warning sign for SOL you'll probably want to know about.
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.

Valuation is complex, but we're helping make it simple.

Find out whether SOL is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.
View the Free Analysis
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at)

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks 

Three Wallets Holding $25 Million Solana (SOL) Each Begin Accumulating New Alternative Priced at $0.11.

In the world of cryptocurrencies, where fortunes can change overnight, astute investors are constantly seeking opportunities to diversify their portfolios and maximise returns. Recently, there has been a fascinating development as three wallets, each holding $25 million worth of Solana (SOL), have begun accumulating a new alternative in the form of Retik Finance (RETIK). Priced at just $0.11 per token in its annoying presale stage 9, Retik Finance is catching the attention of experienced crypto investors looking to capitalise on its potential for substantial growth. In this article, we will delve into the significance of this accumulation and explore why Retik Finance is gaining traction as a viable alternative.
Click Here To Take Part In Retik Finance Presale
The Solana (SOL) Connection
Solana (SOL) has been a standout performer in the cryptocurrency market, attracting significant attention from both retail and institutional investors. Its high-speed blockchain, low transaction costs, and scalability have contributed to its impressive rise. However, as seasoned crypto investors know, diversification is a key strategy to manage risk and capitalise on emerging opportunities. Three wallet holders, each with a substantial $25 million worth of Solana (SOL), have made a calculated move by turning their attention to Retik Finance (RETIK). This shift in focus is significant for several reasons:
Risk Management: Diversifying a crypto portfolio is a fundamental strategy to manage risk. By accumulating an alternative asset like Retik Finance alongside Solana, these investors are spreading their risk and reducing their exposure to a single asset.
Growth Potential: Retik Finance is priced at just $0.11 per token, presenting an attractive entry point for investors looking to accumulate a significant number of tokens. The wallet holders likely see the growth potential in RETIK and are positioning themselves for substantial returns.
Real-Life Utility: Retik Finance stands out for its focus on real-life utility, offering innovative solutions such as DeFi debit cards and AI-powered lending. This utility-driven approach resonates with investors seeking projects that address tangible financial needs.

Why Retik Finance (RETIK)?
Retik Finance has been gaining attention for several compelling reasons that make it an appealing alternative to established cryptocurrencies like Solana:
Affordable Entry Point: With a token price of just $0.11, Retik Finance provides an affordable entry point for investors of all sizes. This affordability allows investors to accumulate a substantial number of tokens without a significant upfront investment.
Innovative Solutions: Retik Finance is more than just a digital asset; it offers a range of innovative solutions designed to bridge the gap between the crypto realm and everyday life. These solutions include DeFi debit cards, smart payment gateways, AI-powered lending, and highly secure wallets.
Community Support: Retik Finance has been steadily building a strong and supportive community of users and investors who share the project’s vision. A dedicated community can play a crucial role in driving adoption and demand for the token.
Transparent Development Team: Transparency is a hallmark of Retik Finance’s development team. The project boasts a skilled and transparent team committed to realising its vision, a factor critical to the long-term success of any cryptocurrency project.
The Potential for Accumulation
For the wallet holders accumulating Retik Finance (RETIK) alongside their substantial Solana (SOL) holdings, the potential for accumulation is significant.
Here’s a hypothetical scenario to illustrate the accumulation potential:
Let’s say each of the three wallets acquires $5 million worth of RETIK at $0.11 per token in its stage 9. This would result in approximately 45,454,545 RETIK tokens ($5,000,000 / $0.11 = 45,454,545 RETIK).
Now, imagine a scenario in which RETIK experiences significant growth, reaching a price of $5 per token post listing as experts projected. With the initial investment of $5 million and the potential price increase:
The value of each wallet’s RETIK holdings could reach $227,272,725 ($5 x 45,454,545 RETIK).
This scenario showcases how even a modest allocation to Retik Finance can result in the accumulation of millions. With its affordable price and growth potential, Retik Finance is positioning itself as an attractive alternative for investors seeking diversification.
The accumulation of Retik Finance (RETIK) by wallet holders with substantial Solana (SOL) holdings signals a growing interest in this emerging cryptocurrency. While Solana has enjoyed significant success in the crypto market, diversification remains a prudent strategy for investors looking to manage risk and capitalise on new opportunities. Retik Finance’s affordability, innovative solutions, community support, and transparent development team make it a viable alternative for those seeking to expand their crypto portfolios. As these wallet holders allocate resources to RETIK alongside their SOL holdings, they are positioning themselves for potential growth and returns. It’s important to note that cryptocurrency investments are subject to volatility and market dynamics, and actual outcomes may vary. However, Retik Finance’s unique value proposition and real-life utility make it a project worth considering for investors looking to navigate the evolving landscape of digital assets. As cryptocurrency markets continue to evolve, the accumulation of Retik Finance by these wallet holders underscores the importance of staying open to emerging opportunities and adapting investment strategies to meet changing market conditions. Retik Finance’s journey as a compelling alternative to established cryptocurrencies like Solana is just beginning, and investors are eager to see how it unfolds in the coming years.
Click Here To Take Part In Retik Finance Presale
Visit the links below for more information about Retik Finance (RETIK):

  • Website:
  • Whitepaper:
  • Linktree:

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this article does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this article.

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