The JELLYJELLY token, inspired by Venmo’s founder, sees explosive growth on launch day, marking a shift towards Internet Capital Markets on Solana.
By Temitope Olatunji
Edited by Marco T. Lanz
Updated
3 mins read
The Jelly My Jelly token is gaining attention among crypto investors. Inspired by Venmo founder Sam Lessin, the token has experienced a rapid surge in value, reaching a market cap of $230 million within two hours and generating $500 million in trading volume.
A savvy investor, Mansa Musa, shared on X that he bought JELLYJELLY for $10,000 when its market cap was under $2 million. Its value has now grown to $1.32 million, resulting in an enormous profit for him. Similarly, a crypto commentator revealed that someone managed to turn $1,500 into $1 million in under three hours with JELLYJELLY today.
Someone flipped $1.5K into $1M in under 3 hours with $Jelly today.
These opportunities are out there—but do you know how to spot them? 👀 pic.twitter.com/io0OanxRxc
— ManLy (@ManLyNFT) January 30, 2025
However, Sam has claimed that he does not own any of the tokens, according to a post by IBC Group Official, founded by Mario Nawfal. He stated:
“Big moves from the Venmo founder: Jelly just launched, along with its own token, JELLYJELLY. The twist? He says he doesn’t own any of the token. Looks like a FaceTime-style app where convos get recorded and clipped for social – BUT you might need the token to even get in.”
According to a post shared by the Venmo founder on his X page, the token was launched to support creators on the Jelly app. The token will grant users access to the app and be integrated into the ecosystem, marking the launch as part of the token’s community-building efforts in the crypto market.
The coin is already gaining support from top exchanges, such as Bybit. The platform announced that it has listed the JELLYJELLYUSDT perpetual contract in the Innovation Zone, allowing users to enjoy 20X leverage. The token was launched on Solana’s pump.fun.
The token’s launch follows a new trend in the Solana ecosystem, where legitimate founders use Pump.Fun and similar platforms to raise capital for product development and marketing, rather than relying on traditional funding methods like VC rounds or IPOs.
The “Internet Capital Markets” trend—promoted by Solana—aims to use blockchain technology to make global finance more efficient, accessible, and cost-effective. According to a report by Multicoin Capital, Solana could disrupt traditional financial institutions with this approach.
Mario Nawfal wrote on X that the crypto space is being shaken up by Internet Capital Markets. He referenced the quick success of the Jelly My Jelly token, stating that the Venmo co-founder opted to use pump.fun instead of traditional fundraising methods. Nawfal also mentioned that this follows the recent launch of the $VINE token by the founder of Vine. He predicts that things are about to get even crazier in the crypto space, stating:
“Well, the co-founder of Venmo, Lessin, decided to launch a token rather than raise capital and used Pump Dot Fun to do so. This comes just days after the founder of Vine launched $VINE. Things are about to get crazier…”
Thus, Internet Capital Markets could lead to more token launches by recognized builders and even encourage startups and Product Hunt-type platforms to use token launches as an alternative to traditional financing.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
