Solana records 38M AI-driven transactions as memecoins slump
Solana reported 38 million on-chain transactions involving autonomous AI agents, a milestone highlighted on the network’s official X account. The activity underscores growing AI-driven utility on Solana and coincides with strong on-chain fundamentals: weekly spot DEX volume hit a 13-week high of $36 billion per SolanaFloor data. Market attention over a “no more memecoins” comment sparked debate—Binance founder CZ defended memecoins while critics noted centralized exchanges profit from listings. Meanwhile memecoins are under pressure: the memecoin market cap fell about 35% this month and some Solana meme tokens like Official Trump (TRUMP) dropped roughly 40%. The article argues investors are favoring real network activity and AI projects over speculative memecoin bets, suggesting Solana may lead the next wave of blockchain adoption driven by AI utility.
Bullish
The news is bullish for Solana and utility-focused crypto assets. Key reasons: (1) 38 million AI-driven transactions demonstrate increasing real on-chain activity and developer traction—metrics traders view as fundamental adoption signals. (2) High DEX volume ($36B weekly) supports liquidity and ecosystem usage rather than purely speculative flows. (3) The relative decline in memecoins (market cap down ~35%) suggests capital rotation from high-risk speculative tokens into projects showing measurable utility, which tends to support price stability and upward momentum for utility tokens like SOL. Short-term impact: mixed—memecoin volatility may keep market sentiment choppy, and headlines can trigger profit-taking or rotation. Expect SOL and related utility projects to outperform speculative tokens in the near term. Long-term impact: positive—sustained AI integrations and real-world use cases can improve Solana’s fundamentals, attract institutional and developer interest, and reduce reliance on hype cycles, supporting deeper liquidity and potentially higher valuations. Comparable past events: networks that showed real use (e.g., Ethereum during DeFi/NFT growth) saw durable valuation gains vs. ephemeral memecoin spikes. Risk factors: network outages, regulatory pressure on AI/data use, or renewed macro risk could blunt gains.