Avalanche meme mint ditches warm up while Avax Lambo is hit $ 25 million

Meme Coin Trading on the Avalanche Blockchain is warmed up with several runners of several millions of dollars launched on Socialfi App The Arena. In fact, native token of the platform, Arena, has risen to $ 58.7 million in the weekend.

The biggest winner is Lambo, a meme coin that was made just on Saturday that has risen to a market capitalization of $ 25.24 million. That is almost half of the market capitalization of the platform on which it was launched. But since then it has withdrawn 25.3% to $ 18.84 million.

Other remarkable runners are magical internet money, which on Friday achieved a peak of a market capitalization of $ 5.4 million and has since fallen 73% to $ 1.4 million. Like Bridge Bridge, who has fun with traders who encourage others to exchange their tokens – or to bridge – to Avalanche. The token hit $ 2.4 million on Monday before he dropped 35% to $ 1.5 million.

The Arena is a socialfi app with which users can earn their content through a tip system. Last month the platform rolled out a token launch path and Dex, shortly before decentralized exchange, which recently exploded in volume.

According to Defillama, the Arena Dex has processed $ 17.7 million in volume over the past 24 hours – an increase of 645% compared to the day after the DEX was launched. This has increased it to the third largest decentralized exchange on Avalanche, which exceeds Uniswap in the process.

The Token Launchpad created more coins on Saturday and Sunday than on another day, excluding a single peak shortly after the launch, according to Blockworks data. That said, the number of tokens launched on the Arena on Saturday and Sunday was 2,362 and 2,356 respectively. For comparison, the leading Solana Launchpad Pump.Fun has made 23,456 according to Dune Data in the last 24 hours.

But traders believe that it is easier to choose a winner on Avalanche – possible as a result of less saturation.

“I am 100% serious when I tell you that there is a chance of 0% that I get so much on Solana,” Jesus Martinez, Avalanche Trader and ambassador, on X, previously Twitter. “It probably won’t take forever, but it feels nice.”

“Another Arena launched Munt that became vertical,” Pseudonymous Crypto -Influencer Korean Jew also placed on X, referring to Lambo’s recent increase. “No problem, always happens.”

While the avalanche platform exploded in growth, the CEO of the Arena Jason Desimone reminded users that the app will eventually get its own L1. This is due to the ability of Avalanche to make L1S, formerly Subnets, for projects to scale, while L1S can still communicate with each other.

Avalanche Shooter from the grid is one of the most radiant examples of this in action, with its special L1 in the Gunz network that drives its growing in-game skin economy.

“A part of a flourishing ecosystem is not only launching tokens, but builders Bouwtools and Dapps on top of this socialfi L1,” said Desimone on X. “We have seen more tools and [decentralized apps] are built for Arena in the past 2 weeks than the previous 1.5 years. You are still early in this. The path ahead is clear. “

Published by Stacy Elliott.