Share this article
Solana Bags Record Daily Fees of $35M Amid Trump Memecoin Frenzy
Such fees are remarkably high for a low-cost blockchain, when transactions typically take fractions of a cent to settle.
Jan 20, 2025, 7:39 a.m.
What to know:
- Donald Trump’s official token (TRUMP) being issued on the Solana blockchain on Saturday led to an uptick in trading volumes.
- Over $35 million in fees were generated with at least $14 million in revenue.
The world’s most-used blockchain just bagged its largest ever daily fees. On Saturday, Donald Trump’s official token, TRUMP, was issued on the Solana blockchain, which led to an uptick in trading volumes over the weekend.
Between Saturday and Sunday, the network generated fees of over $35 million and revenue of at least $14 million, DeFiLlama data shows. This volume originated from some 6 million active addresses.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
These fees are more than double of Nov. 22 levels of nearly $14 million, when several AI Agent tokens populated the network and led to a trading frenzy.
Such fees are remarkably high for a low-cost blockchain, when transactions typically take fractions of a cent to settle. The TRUMP token attracted over $3 billion in trading volumes on Saturday and Sunday, with other ecosystem plays, such as Jupiter’s JUP, seeing heightened interest from traders.
The choice of Solana as an issuance network, in turn, bumped demand and sentiment for SOL tokens, as reported by CoinDesk. SOL trading volumes have rocketed from Thursday’s $3 billion to over $26 billion in the past 24 hours, with Saturday’s moves bringing weekly gains to over 46%.
SOL has surged nearly 3,000% from its three-year low of $9 back in December 2022 when the implosion of crypto exchange FTX and prominent Solana backer Sam Bankman-Fried, dented sentiment for the network.
Late Sunday, First Lady Melania Trump launched her own memecoin in a move that sent TRUMP spiraling down 50% at one point. The high volumes and network requests briefly caused ecosystem applications Jito and Phantom to encounter delays in Asian morning hours, though these were quickly rectified.
Phantom reported 8 million transactional requests per minute in an X post. It said users swapped over $1.25 billion in volume and made 10 million transactions over a 24-hour period.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Reopens India Signups, Targets Fiat On-Ramp in 2026 After Two-Year Freeze
Coinbase halted services entirely in 2023, off-boarded millions of Indian users and shuttered local access while reassessing regulatory exposure.
What to know:
- Coinbase has resumed onboarding users in India, marking its return to the market after a two-year hiatus due to regulatory issues.
- The exchange is currently allowing crypto-to-crypto trading and plans to reintroduce fiat on-ramps next year.
- Despite regulatory challenges, Coinbase is investing in India, including increasing its stake in local exchange CoinDCX.
Top Stories
