Solana (SOL) is exploding – breaking $200 for the first time since April.
With SOL rising and the broader market flipping green, investors are starting to notice some of the newer projects out there.
One that’s getting a lot of attention is FreeDum Fighters (DUM), a PolitiFi meme coin that’s raised over $450,000 in presale.
SOL Dominates ETH as Network Activity Explodes
Solana’s price keeps climbing – now over $204 – and it just had its third straight day in the green.
What’s also eye-catching is how well SOL is doing against ETH.
The SOL/ETH ratio hit an all-time high of 0.0717 earlier this week, and after a slight dip, it’s climbing once more.
That shows just how much faith investors are placing in Solana.
SOL is up 101% this year, while ETH is only up 27%.
This could indicate that the market is changing, and investors see Solana as the most exciting Layer-1 chain.
SOL’s price surge also comes at a time of serious growth on the network.
Solana’s total value locked (TVL) is now $6.9 billion, up $3 billion from August
Lower transaction fees and a growing meme coin sector are driving this growth, helping Solana gain market share.
Big players seem to be taking notice, with SOL’s open interest at an all-time high of $3.5 billion.
Coinbase Boosts Solana DeFi Scene with Bitcoin Integration
There’s another significant development for Solana: Coinbase just launched wrapped Bitcoin (cbBTC) on the network.
This means Bitcoin’s massive liquidity is now flowing into Solana’s DeFi space.
We’ve already seen $10 million worth of cbBTC on the chain.
This move comes at the perfect time, with Bitcoin almost hitting $77,000 after the Fed’s latest rate cut.
Coinbase’s decision to launch wrapped Bitcoin on Solana shows growing faith in the network, especially after the issues with soBTC during the FTX collapse.
cbBTC is live on @solana.
cbBTC is an SPL token that is backed 1:1 by Bitcoin (BTC) held in custody by Coinbase.
This is the first token Coinbase has issued on Solana, and with it, we’re excited to bring easy access to BTC.
Here’s what you can do with your cbBTC on day one ↓
— Coinbase ️ (@coinbase) November 7, 2024
Now, with different kinds of wrapped Bitcoin on Solana, it’s becoming a key DeFi player.
Top Solana protocols like Jupiter and Kamino Finance are already integrating cbBTC.
That’s a vote of confidence in Bitcoin-based DeFi on Solana.
Combine that with the bullishness around Trump’s election victory, and it’s easy to see why the SOL price is exploding right now.
Could PolitiFi Coin FreeDum Fighters Benefit from the Bullishness? DUM Token Presale Hits $450K
Solana’s price jump has also got investors excited about newer crypto projects.
One such project is FreeDum Fighters – a meme coin with a political satire twist.
FreeDum Fighters benefits from the market’s bullishness and has now raised over $450,000 in its presale phase.
The project is tapping into the combination of crypto and politics to great effect.
While FreeDum Fighters isn’t tied to the Solana blockchain, the positive market buzz is a good sign for its growth prospects.
What makes this project stand out is its staking-based ecosystem.
Users can stake DUM, the native token, in one of two pools – MAGATRON or Kamacop 9000.
These pools are satirical versions of Donald Trump and Kamala Harris.
Each pool has its own specific yield, so users can “vote” for their favored personality and earn extra DUM tokens in return.
This mix of staking rewards and political jokes has caught the attention of some top crypto analysts.
The experts at 99Bitcoins even predicted DUM could explode after it is listed on a DEX.
With Trump’s recent win getting everyone talking about crypto, FreeDum Fighters’ timing could be spot on.
Its growing community and low presale price make DUM one of the most exciting new meme coins to watch of late 2024.
Visit FreeDum Fighters Presale
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