In what has been one of the most bullish months of the year, asset manager and crypto exchange-traded fund (ETF) issuer VanEck released a report highlighting significant gains in the memecoin sector, alongside notable performances from major cryptocurrencies like Cardano (ADA), Solana (SOL), Polkadot (DOT), and Stellar (XLM). Solana’s Ecosystem Thrives According to VanEck’s analysis, Solana delivered a 42% return in November, with the SOL token hitting an all-time high of $262. This increase was largely driven by a surge in on-chain trading activity related to memecoins, which led the general market rally with a 95% increase during the month. This drove Solana’s revenues and decentralized exchange (DEX) volumes to unprecedented levels. In fact, Solana generated $177 million in revenue in November, doubling the previous month’s high of $74 million. Related Reading: BNB Surges 18% To Hit Record High Close To $800: Is Further Growth On The Horizon? This rush of activity also benefited projects such as Jito and Pump.fun, which generated revenues of $185 million and over $92 million, respectively. Jito operates as an on-chain application that generates revenue thr ..
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