Memecoins have proven their ability to drive traffic to blockchains and deliver massive gains. Among these, Solana was the biggest beneficiary of the memecoin cycle. Its ability to make meme coin launches easier has attracted celebrities, influencers, and politicians alike. However, Solana has already seen major challengers for its memecoin dominance.
For one TON seems to be the next potential memecoin hub. Its recent surge in volume, as well as memecoin partnerships, revealed its potential for memecoins. Moreover, another platform has the potential to further boost TON’s ecosystem by providing much-needed liquidity.
Solana Sees Renewed Memecoin Frenzy
In recent days, Solana (SOL) once again came into the spotlight as the premier meme coin hub. The token rose 44.37% in the last 30 days, reaching an all-time high of $294.33. This came after incoming US President Donald Trump launched his own memecoin on the chain.
The Solana-based Official Trump (TRUMP) token reached a $14 billion market cap just days after launch. After its meteoric rise, the spike in trading also boosted Solana. In last year’s memecoin cycle around March, Solana was the key platform for several celebrity memecoin tokens. Among others, Caitlyn Jenner,
Azalea Banks, and Andrew Tate all launched their own memecoins.
The performance of these celebrity meme coins was usually pretty dismal. Still, these launches managed to cement Solana’s reputation as the key memecoin launchpad. Still, Solana has also seen significant competition in this field, including from Tron and recently TON.
TON Enters Memecoin Race With New Launchpad
Telegram’s The Open Network (TON) has recently joined the memecoin race. After registering a major transaction milestone, the network gained a key partnership in the meme coin arena. Back in September, TON passed the milestone of 1 billion transactions, reaching 40 million blocks.
Thanks to a significant surge in transaction volume, TON’s ecosystem is rapidly expanding. Most recently, an EVM-focused memecoin launchpad GraFun. Like Pump.fun, from which it drew inspiration, GraFun enables anyone to launch meme coins easily. This model will likely enable TON to benefit from the growing memecoin ecosystem.Â
The memecoin launchpad could also potentially benefit from TON’s deep integration with Telegram. Boasting 950 million monthly active users, Telegram is a key launchpad for TON. So far, simple Telegram apps like Notcoin have attracted millions of users to TON. These apps were also key contributors to TON’s rising network stats. However, TON also has significant challenges, especially when it comes to liquidity.
Elluminex To Help TON Dominate Memecoin Market
TON has significant technical capabilities that are well suited for memecoin traders. However, issues like lack of liquidity present a significant roadblock. This is something that the DeFi platform Elluminex (ELX) aims to solve.
Elluminex is an upcoming DEX, dedicated to boosting the TON ecosystem. Unlike most major networks, TON still lacks a robust DeFi platform for its users. As a result, the network is starved for liquidity, reflected in its relative underperformance.
The Elluminex DEX enables users to perform seamless cross-chain swaps across 40 major blockchains. This not only makes for a good user experience but also brings significant liquidity to TON. As a result, Elluminex can offer low-slippage, self-custodial trading for both large and small users alike.
For more information about Elluminex (ELX) visit the links below:
Website: https://elluminex.com
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex
