Crypto News: Trading Volume Surges On Solana, Litecoin And New DeFi Altcoin, What Do Traders Know We Don’t?
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/Cutoshi/ – Despite a slight retracement, Solana is trending upwards, well on its way to making fresh all-time highs, as SOL Spot ETFs are in the works. Litecoin joins the ranks of those looking to get an ETF via Canary Capital, while new trending coin Cutoshi mixes DeFi and Memes in a move that some are calling ‘MemeFi’.
Meme Coins Drive Solana’s Revenue Boom
Given the unprecedented success of the Bitcoin Spot ETFs and the Ethereum Spot ETF inflows finally turning positive, it’s no wonder that institutional investors and TradFi want exposure to Solana. This is all becoming not just possible but likely now that Gary Gensler and the SEC are being asked to step down in their anti-crypto approach.
Matt Sigel, VanEck’s head of digital asset research, predicts that a SOL spot ETF might be available by late 2025, saying that:
“Due to a meme coin frenzy, over the past 24 hours, half of the top 10 crypto protocols by fees generated were on Solana.”
Pump.fun, the meme coin deployer that forever changed Solana and memes, was responsible for returning $1.65 million in fees. Solana’s meme coin trading bot Photon weighed in as the seventh-largest revenue earner, earning $2.36 million in a single day.
Scott sees this as a radical shift in the DeFi space, as a year ago most of crypto’s fees were generated by Ethereum-based protocols.
Other important sources of fees came from DEX Raydium and liquid staking platform JITO.
SOL is now changing hands at $259.
MemeFi Token’s Viral Success And Community Growth
An early-stage project called Cutoshi is tapping into the crypto-wide hunger for memes while going deeper and providing the essential elements of a cross-chain dex and education to help people interact with DeFi.
As Solana’s meme coins generate record fees and drive activity across DEXs, Cutoshi is sitting pretty. The Cutoshi cross-chain DEX simplifies trading across blockchains, addressing one of the most persistent pain points in DeFi-making transactions smoother and more accessible. All with lower fees and slippage.
Memes and community go hand in hand, so token farming was recently released, which is basically gamified questing. Each user competes against themselves and others on the leaderboard, aiming to collect the most points to get the biggest airdrops, reminiscent of the TON blockchain’s viral clicker games. According to X, 2000 people are already taking part.
This mix of functionality and onboarding potential sets Cutoshi apart as a more innovative option compared to projects like Litecoin, which relies on external factors like ETFs for relevance.
Cutoshi recently went viral and ended up trending on X after being listed on CMC (CoinMarketCap). This brought lots of new investors and pushed up the total raise amount to over $1,000,000.
The token $CUTO is now for sale at $0.0259.
Litecoin’s Spot ETF News Boosts Price
LTC jumped to $75 in October, following the news that Canary Capital had filed for a Litecoin Spot ETF, just days after filing for an XRP ETF. Trading volumes also saw a boost of 150%.
However, this was before the pro-crypto GOP election win, so enthusiasm was short-lived and a few days later the coin corrected to $68.84.
Although many suspected that a Trump win would be very positive for crypto, it was to the joy and relief of the wider crypto market that infamous SEC chair Gary Gensler hinted at his resignation four days ago. Of course, he had little choice after Trump declared that he would fire Gensler as one of the first orders of business.
Although there are existing ways for traditional investors to get exposure to Litecoin, the approval of the LTC Spot ETF could be bullish for coin holders.
As the ETH Spot ETF’s underwhelming performance has shown, this doesn’t necessarily translate into bullish sentiment from institutional investors.
LTC is currently trading at $91.
For more information on the Cutoshi (CUTO) Presale: Website.
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