NAIROBI (Coinchapter.com) – Avalanche’s first memecoins – Coq Inu, Gecko, Kimbo, NoChill and Tech – have been added to the Avalanche Foundation’s holdings. The move marks a major entry into the meme coin space through the Avalanche Foundation’s Culture Catalyst program. Initially designed to support Web3 creators, the initiative now extends to the vibrant world of meme coins.
Avalanche’s first Memecoins enter the market.
The Avalanche Foundation recently announced its entry into the memecoin market. Avalanche is not just dipping its toes, but diving headfirst into the dynamic world of memecoins. Initially designed to support the innovations of Web3 creators and Avalanche, the program now expands its reach into the fun, vibrant, and sometimes downright wacky world of meme coins.
DEX Volume Is Indicative of Solana’s Memecoin Dominance
While Avalanche is making memecoin waves, Solana is at the top when it comes to decentralized exchange (DEX) trading volume. Artemis’ data analysis confirms that Solana DEX trading volume currently far exceeds that of the Avalanche network. This means increased trading activity and deeper liquidity pools for meme coins within the Solana ecosystem.
Solana vs Avaralnche Dex Volume. source
Additional data solidifies the momentum fueled by Solana’s meme. It boasts a massive lead in daily transactions, with 24 million compared to the Avalanche’s 548,000. Solana also dominates, with 1.2 million daily active addresses compared to Avalanche’s 83,000. These stark differences indicate a much larger and more engaged user base actively participating in the Solana Meme Coin economy.
Solana vs. Avalanche DEX TVL. source. TradingView
Solana has further consolidated its position with an impressive Total Value at Lack (TVL). That’s $3.2 billion, more than three times the Avalanche’s TVL of $1.1 billion. TVL is a valuable indicator of overall investor confidence and asset investment within the blockchain, and Solana clearly enjoys greater market confidence.
With Avalanche’s first Memecoin hitting the market, it is too early to tell if Avalanche memecoins will be able to dethrone Solana as the king of meme coins. But it undeniably shook things up. These fun competitions drive innovation, attract new audiences, and bring more excitement to the cryptocurrency scene. The Avalanche meme coin is ready to deliver your own brand of community fun.