Trump's currency turmoil disrupts the Solana Decentralized Finance landscape: Meteora's daily volume soars 8 times, while Raydium's short-term share falls to less than 30%.

Author: Frank, PANews

With the market enthusiasm triggered by the issuance of personal token TRUMP by US President Trump, the Solana ecosystem has become the biggest beneficiary, with not only the DEX trading volume hitting a historical high for two consecutive days, but also the daily on-chain transaction fees reaching 33.3 million US dollars, setting a new record.

By taking a closer look at the changes within the Solana ecosystem, the most direct beneficiaries are Jupiter and Meteora. Jupiter has long been the most active aggregator on Solana, so it is expected to benefit from this heat. What is somewhat unexpected is Meteora, which has been relatively low-key in this cycle, and its previous data volume has always ranked behind Raydium. In terms of growth rate, Meteora may be the biggest beneficiary in the TRUMP token frenzy, but is this dividend a flash in the pan or the beginning of a change?

Accepting the president's issuance of coins, the daily trading volume increased eightfold.

Before January 18th, the daily trading volume of Meteora was about 500-600 million US dollars per day. However, on January 18th, this figure surged to 3.99 billion US dollars, an increase of about 8 times in a single day. The following 19th and 20th also reached new highs, with trading volumes of 6.1 billion and 4.7 billion respectively.

Trump's issuance of coins disrupts the Solana DeFi landscape: Meteora's daily trading volume soars eightfold, while Raydium's short-term share drops to less than 30%

Such data changes are also reflected in the number of active addresses, showing a significant increase in the number of active addresses. Generally speaking, the number of active addresses in Meteora has been hovering between 120,000 and 130,000, without any particularly large changes. On January 18, this data increased to 550,000, on the 19th and 20th it was 700,000 and 640,000 respectively, with the largest increase reaching about 5.8 times.

Trump's Coin Shakes Up Solana DeFi Landscape: Meteora's daily trading volume surges 8 times, while Raydium's short-term share drops to less than 30%

Did you catch a ride from Jupiter?

And these changes are clearly due to the trend of the Trump family issuing tokens. From the data, as of January 21st, seven of the top ten hottest trading pairs on Meteora were related to Trump tokens, mainly around the TRUMP and MELANIA tokens.

Trump's Coin Stirs Up Solana DeFi Landscape: Meteora's Daily Trading Volume Soars 8x, Raydium's Short-term Stake Falls to Less Than 30%

Of course, all of these changes are due to the dividends brought by the Trump family's issuance of coins. From an ecological perspective, what are the characteristics of Meteora that make it the choice of the Trump family?

In fact, there is not much news about Meteora. The project was created in 2021 and is one of the earliest liquidity platforms on Solana. Meteora has two co-founders, Ben Chow and the well-known Meow, both of whom are also co-founders of Jupiter. It can be said that Meteora and Jupiter have the same origin. The earliest Meteora was named Mercurial Finance, and in 2022, it issued the token MER. However, due to the impact of the FTX incident, the team decided to rename the brand to Meteora, abandon MER, and plan to reissue the new token MET. As of now, the new token MET has not been issued. According to previous announcements, the issuance of MET may take place in February 2025.

By comparing the data of Meteora and Jupiter, it can be found that Meteora has a smaller user base and fund flow volume than Jupiter, but it has a larger increase in this TRUMP token bonus. On January 18th, Jupiter's daily trading volume surged to 16.8 billion US dollars, and on the 19th, it set a new record of 20.6 billion US dollars. The daily data scale before this is generally maintained at around 6 billion US dollars. From this perspective, the issuance of the TRUMP token this time mainly focuses on the user base and liquidity of Jupiter. The addition of Meteora is more like a move to boost the expectation of Meteora's currency issuance under the same team background.

The Solana DeFi landscape is quietly changing

In addition to Meteora and Jupiter as the preferred partners for this release, as the trading volume increases, other DEX products have also seen significant increases in data. After the 18th, Raydium's trading volume more than doubled, with the highest daily trading volume reaching 138 billion US dollars. However, there was not a significant increase in active users, only about 30% more than usual, peaking at around 4 million daily active users. In addition, several protocols such as lifinity, orca, and phoenix also showed significant growth.

However, the biggest winner seems to be Meteora. According to Blockwork's data, Meteora's share of MEME coin transactions on Solana has always been below 10%. Starting from January 18th, this proportion has risen to 60%. The main market share being eroded is Raydium's, which previously accounted for about 90% of the market share. After the issuance of TRUMP token, this proportion dropped to less than 30% at the lowest.

Trump's issuance of coins disrupts Solana DeFi landscape: Meteora's daily trading volume soars 8 times, while Raydium's short-term share falls to less than 30%

In fact, as the most popular transaction aggregator on Solana, Jupiter has previously launched APE pro, a MEME launching platform, in an attempt to break the monopoly of Pump.fun. However, the development of the platform has obviously not met expectations. As a product of the same ecosystem, Meteora also launched a similar feature, but it also failed to have an impact on social media.

Trump's coin stirs up the Solana DeFi landscape: Meteora's daily trading volume surges 8 times, while Raydium's short-term share drops to less than 30%

In addition, PANews has tried to use this function multiple times, but the feedback always shows that the server has crashed.

Trump's coin stirs up Solana DeFi landscape: Meteora's daily trading volume soars 8 times, while Raydium's short-term share falls below 30%.

It is evident that after Solana's unshakable position in the MEME track, the competition within the Solana ecosystem has become increasingly fierce. For Jupiter and Meteora, the Trump family's coin issuance is a historic opportunity. According to Jupiter and Meteora, the issuance of TRUMP token is the largest release in the cryptocurrency field.

From the results, it is clear that Jupiter and Meteora have indeed brought about significant changes. In terms of the reasons, compared to the combination of Pump.fun and Raydium, Jupiter and Meteora appear to be more in line with the needs of the presidential issuance from a compliance or branding perspective.

Just don't know if Trump's coin will really trigger more politicians or celebrities to imitate as the outside world expects? If it can create a new trend, then the combination of Jupiter and Meteora seems to have more opportunities to completely take market share from Pump.fun and Raydium through this planned coin issuance.

After all, at present, it seems difficult for personally issued MEME coins to become gold coins. Behind the recent hot AI Agent-like tokens, there are professional teams and organizations. Judging from Meteora's performance, the advantage of Pump.fun seems to be weakening. (Related reading: Estimated Pump.fun income statement: issuing a coin brings in $68 for the official, and users make a profit or pay fees of 70%. )

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