SOL Dominates Solana Network as WIF and POPCAT Follow

Phoenix Group reveals a lineup of Solana-based tokens generating substantial trading volume. Leading the list by a wide margin is Solana’s native token, SOL, with a significant weekly trading volume of $16.2 billion. While other tokens trail behind, they still hold substantial market value, showcasing Solana’s robust and diversified network of digital assets.

SOL maintains its dominance, representing the lion’s share of trading volume among Solana tokens. Despite a 6.4% drop in its seven-day price change, SOL achieved a weekly volume of $16.2 billion, indicating sustained investor interest. With a market cap of $77.0 billion, SOL continues to anchor the Solana network, reflecting its central role in the ecosystem’s growth and resilience.

WIF and POPCAT Make Strong Showings

Trailing SOL is WIF, which recorded a weekly volume of $1.9 billion. Despite its price decline of 13.4% over the week, WIF’s significant trading volume underlines its popularity among investors. POPCAT, another well-performing token, ranks third with a weekly volume of $1.1 billion. POPCAT saw a modest price change of -0.4%, suggesting relatively stable investor sentiment even amidst market fluctuations.

Further down the list, emerging tokens like BOME, GOAT, and MEW exhibit growing trading volumes. BOME, with a weekly volume of $912 million, experienced a notable price decrease of 13%, while GOAT followed closely with a trading volume of $712 million despite a 5.6% price drop. MEW, ranked sixth with a weekly volume of $675 million, saw a more pronounced price drop of 15.9%, but its trading activity highlights continued interest.

Tokens such as JUP and PYTH have also captured substantial volumes, at $635 million and $600 million, respectively. JUP’s weekly volume highlights steady interest despite a 12.4% price decline, while PYTH recorded a smaller price drop of 1.4%. RAY and BONK also featured on the list, contributing to the Solana ecosystem’s diverse token landscape, with RAY posting a volume of $569 million and BONK at $450 million.

GRT, CVC, and TNSR are at the lower end of the volume spectrum, with trading volumes ranging from $300 million to $207 million. Interestingly, GRT is one of the few tokens that posted a positive price change, rising by 3.9% over the week, while TNSR suffered a notable 25.4% price drop.