Solana TVL Hits All-time High Amid Trump Memecoin Frenzy

The Solana blockchain recorded an all-time high in total value locked (TVL) following the launch of the TRUMP and MELANIA meme coins.

On Jan. 19, Solana's TVL surpassed $12 billion, its highest level to date, according to DeFiLlama data. This surge represents a nearly 40% increase over the previous week and marks the first time Solana’s TVL has crossed $10 billion since Nov. 2022, when FTX collapsed.

The Solana (SOL) token, which trades at $258 at the time of writing, has surged by 6% in the past 24 hours and 30% over the past week, according to data from CoinGecko.

The boost in activity can largely be attributed to the TRUMP and MELANIA memecoins, launched this past weekend ahead of President Donald Trump’s inauguration on Jan. 20.

“TRUMP saw $40 billion 24-hour trading volume on Sunday alone,” Chris Chung, CEO and founder of Titan, told The Defiant.

Chung highlighted that this surge was a significant vote of confidence in Solana, praising the blockchain’s ability to handle the massive spike in trading volume and TVL as “remarkable.”

“No other blockchain could have survived what we saw over the weekend unscathed,” Chung said. “I’m certain that $20 billion TVL will pale into insignificance when we see the liquidity coming at us this year.”

Trump Memecoin Mania

CIC Digital LLC, a Trump-affiliated entity, managed the launch of the TRUMP memecoin. In partnership with Fight Fight Fight LLC, CIC Digital LLC holds 80% of the token's supply, which is scheduled to be distributed incrementally over the next three years.

The memecoin, currently changing hands at $39.58, is set to be listed on major exchanges such as Binance and Coinbase. It currently ranks as the third-largest memecoin by market capitalization ($7.9 billion) across all blockchains, trailing only Shiba Inu and Dogecoin.

Meanwhile, the MELANIA memecoin is trading at $3.78 with a market capitalization of around $571 million.