Solana Reaches New All-Time High in On-Chain Activity Amid Pudgy Penguins Token Surge

Solana’s on-chain activity has reached a new all-time high, coinciding with a significant surge in the Pudgy Penguins token, Pengu. This development is notable, especially given the broader market recovery observed on Christmas Eve in 2024.

Pudgy Penguins Token Sees 30% Surge

The Pudgy Penguins token, the native token of the popular blue-chip NFT series, experienced a 30% surge and bounced back to within 50% of its previous peak price. This uptick is attributed to the Solana network’s growth and the overall market recovery. After its release to 7 million eligible wallet addresses, users now have 88 days to claim 23.5% of the 88 billion tokens, which translates to 20.6 billion coins.

PENGU debuted with a $3.5 billion fully diluted valuation, quickly peaking at $0.06 cents after its launch. However, a market correction followed the airdrop, and a subsequent 30% surge returned the coin to $0.03. This significant price movement highlights the token’s potential and the growing interest in the Solana ecosystem.

Solana Sets New All-Time High in Daily Transactions

According to recent data, Solana set a new all-time high for daily transactions on December 24. This milestone is a testament to the network’s growing popularity and adoption. The surge in transactions is likely driven by meme coins, a key component of on-chain SOL activity, and top Solana meme leaders like Bonk, Dogwifhat, and Fartcoin.

Trading data from DEX Screener shows substantial inflows into these Solana meme leaders. Fartcoin, in particular, has rejoined the billion-dollar market cap club after experiencing a 50% surge, with its price reaching $1.12 per FARTCOIN. This development underscores the growing interest in crypto artificial intelligence agents, a sector gaining traction behind its compelling narrative.

As the Solana ecosystem continues to grow and attract new users, it’s essential to stay informed about the latest developments and trends in the world of cryptocurrencies and blockchain. For more news and updates, visit Global Crypto News.

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