Solana DEX volume and TVL reach multiple all-time highs following the launch of TRUMP and MELANIA

Solana has recently seen a significant surge in both Total Value Locked (TVL) and DEX volume, marking a new phase of growth for the network, largely driven by the explosive debut of the TRUMP and MELANIA meme tokens. The hype surrounding these meme tokens has led to a massive increase in activity on the Solana blockchain, highlighting the growing interest and usage of its decentralized finance (DeFi) ecosystem.

According to data from DeFi Llama, Solana’s TVL hit a new all-time high of $12.19 billion on January 19, 2025. This is the first time Solana’s TVL has surpassed the $10 billion mark since November 2022. Over the past week, Solana’s TVL has surged by nearly 50%, with an increase of over $4 billion. This sharp rise reflects a significant inflow of capital into the Solana ecosystem, as users and liquidity providers flock to the platform, likely driven by the launch of these high-profile tokens.

Solana has also seen impressive growth in its decentralized exchange (DEX) volume. On January 18, Solana’s DEX volume reached $28.2 billion, and continued to break records on January 19, reaching $39.2 billion. This represents an astounding 320% increase in just one week, positioning Solana at the top of the DEX volume rankings, surpassing other blockchain networks in decentralized trading activity.

The launch of the TRUMP and MELANIA meme tokens has undoubtedly played a major role in Solana’s recent growth. These Solana-based tokens, launched by the Trump family, have garnered significant attention, with market caps reaching billions within just three days of their release. The TRUMP and MELANIA tokens have acted as key catalysts for Solana’s resurgence, attracting a large number of investors into the ecosystem.

However, the rapid rise of these tokens has also been accompanied by sharp declines in their prices. TRUMP has fallen by 26% in the last 24 hours, dropping from $74 to just $37.50. MELANIA, on the other hand, has seen an even steeper decline, plummeting by 47%, from $13 to $4.48. While these price drops may dampen the initial excitement, their influence on Solana’s TVL and trading volume remains undeniable, as they contributed significantly to the network’s recent growth.

Currently, Solana remains in second place in the TVL rankings, trailing behind Ethereum. Ethereum’s TVL stands at nearly $65 billion, while Solana’s is approximately $11 billion. However, Solana has seen a 33% increase in TVL over the past month, while Ethereum’s TVL has dropped by nearly 5% during the same period.

While the TRUMP and MELANIA meme tokens may have temporarily fueled the surge in Solana’s popularity, the long-term development of the network will depend on the growth of its ecosystem and broader adoption of decentralized applications (dApps) and DeFi protocols.

The volatility of meme tokens is well-known, and while they have contributed to Solana’s TVL and DEX volume growth, the drop in prices of TRUMP and MELANIA may be a sign of a cooling period for the current hype. Nevertheless, Solana’s resilience and ability to attract liquidity show that the network could remain a formidable player in the blockchain space in 2025 and beyond.

As the DeFi space continues to evolve, Solana’s increasing TVL and DEX volume highlight the rising demand for blockchain solutions that offer high speed and low fees, attributes that are increasingly sought after in the cryptocurrency community. Whether Solana’s growth can be sustained in the long term or if it will prove to be a temporary result of a meme token craze remains to be seen, but the network has undoubtedly captured attention in recent weeks.