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This week, we examine the explosive growth of AI-themed memecoins on Solana, highlighted by GOAT’s $900M market cap achievement. We also analyze Aerodrome’s remarkable DEX performance, with $600M daily volume and 27% monthly AERO price growth, signaling a significant shift in DEX market dynamics
Key Metrics (Weekly Change)
Network Fees — Sum of total fees spent to use a particular blockchain. This tracks the willingness to spend and demand to use Bitcoin or Ether
- BTC fees continue the trend of last week at 8 figures, maintained probably by the trading activity of a near ATH
- Ethereum fees continue relatively low, doubling the lowest values seen in summer but still not beating the activity seen in the latest spring
Exchanges Netflows — The net amount of inflows minus outflows of a specific crypto-asset going in/out of centralized exchanges
- BTC experienced the largest outflows since mid September, signaling buys that could be related to trades along its ATH
- ETH experienced modest inflows, countering the outflows of around the same size seen in the previous week
AI Memes Coins Craze
An AI-endorsed memecoin on Solana reached a $900M market cap within 2 weeks, combining artificial intelligence hype with crypto speculation in an unprecedented way.
Source: IntoTheBlock
The chart above illustrates GOAT’s meteoric rise compared to major coins. This explosive growth can be understood based on several key points.
- AI Pioneer: Created by AI researcher Andy Ayrey, Truth Terminal has gained notoriety for its autonomous operation, managing its own Twitter account and generating independent content that often pushes boundaries
- Controversial Rise: Initially focused on promoting the fictional “Goatse Gospel” (based on an infamous internet shock meme), Truth Terminal caught mainstream attention when VC titan Marc Andreessen donated $50,000 in BTC to its research
- Market Reaction: Despite not creating GOAT itself, Truth Terminal’s strategic endorsement and viral marketing helped drive the token coin over $900M market cap. Truth terminal wallet is the first “AI millionaire” with holdings worth over a million dollars
- Fair distribution: the concentration of the ownership of the supply is distributed more evenly than usual memecoins. There are now more than 40,000Â holders
- Cultural Impact: According to its creator, Truth Terminal represents an experiment in “memetic contagion” and the dangers of uncontrolled idea formation in the age of large language models, raising questions about AI’s role in financial markets
- Memecoin Explosion: GOAT’s success has triggered a wave of over 50 AI-themed meme tokens being launched. Solana is see seeing up to 40,000 new token launches daily, predominantly coming from pump.fun platform
AERO Token Shows Remarkable Growth — outperforms other major DEX tokens with 27% monthly gains
- AERO has demonstrated exceptional performance with a 27% monthly price increase, outpacing peers like Uniswap (15%) and SushiSwap (4%)
- The token’s strong fundamentals are reflected in its high holder profitability at 65%, suggesting strong conviction among investors
- Protocol Revenue metrics are particularly impressive, with $88.5M in annualized monthly revenue, showing substantial protocol adoption
- Despite a relatively small holder base AERO maintains high whale concentration (66.55%), indicating significant institutional interest
Source: IntoTheBlock’s DEX Comparison Perspective
Aerodrome Protocol Gains Significant DEX Market Share in 2024 — Key growth trends emerge from trading volume analysis:
- The protocol has shown a clear upward trend in trading volume share since its launch, particularly accelerating in Q3-Q4 2024. Over $600M are being traded daily on Aerodrome
- Aerodrome’s Slipstream has successfully captured significant trading volume from other established ceoncentrated liquidity DEXes. Around 9% of all onchain swap volume is routed through Aerodrome pools
- Trading volume dominance correlates with AERO’s strong price performance (+27% monthly) and high holder profitability (65%)
The data reveals Aerodrome has transitioned from an emerging DEX to a major player in the ecosystem, with volume trends suggesting sustained rather than speculative growth. The protocol’s ability to attract and retain liquidity while growing market share indicates strong product-market fit in the DEX space.
Source: IntoTheBlock’s DEX Comparison Perspective
AI Memes Coins Craze was originally published in IntoTheBlock on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.