Coin trench on avalanche meme gets hot when avax lambo token touches $25 million

Meme Coin's deal on the Avalanche blockchain is hot with the launch of millions of millions of dollars runners on SocialFi app The Arena. In fact, arena, the platform's native token, rose 127% over the weekend to win $58.7 million.

The biggest winner is Lambo, a meme coin just created on Saturday. This is almost half the market capitalization of the platform that was released. However, since then, it has withdrawn 25.3% to $18.84 million.

Other notable runners peaked at a market capitalization of $5.4 million on Friday, then fell 73% to $1.4 million. Bridge Blue Bridges are also enjoying traders who encourage traders to exchange tokens and exchange bridges for avalanches. The token fell 35% to $1.5 million on Monday, after touching on $2.4 million.

Arena is a social FI app that allows users to monetize content through a chip system. Last month, the platform rolled out the tokens Launchpad and Dex, short for a decentralized exchange that recently exploded in volume.

Over the past 24 hours, Arena Dex has processed volumes worth $17.7 million, according to Defillama. This is an increase of 645% from the day after Dex was released. This made it the third largest distributed exchange in an avalanche, surpassing Uniswap in the process.

According to BlockWorks data, Token Launchpad created more coins on Saturday and Sunday than other days. That said, the number of tokens released in the arena on Saturday and Sunday was 2,362 and 2,356, respectively. For comparison, according to Dune Data, Leading Solana LaunchPad Pump.Fun has created 23,456 in the last 24 hours.

But traders think it's easier to choose a winner in an avalanche, perhaps as a result of saturation.

“When I say there's a 0% chance that there's so many possibilities in Solana, I'm 100% serious,” avalanche trader and ambassador Jesus Martinez wrote on his previous Twitter, X. “It probably won't last forever, but it feels good.”

“Another arena has released a vertical coin,” a pseudonymous crypto influencer Korean Jew also posted on X, referring to Lambo's recent surge. “No big deal, it happens all the time.”

As the avalanche platform explodes as it grows, arena's CEO Jason Desimone reminded users that the app will eventually get its own L1. This is thanks to Avalanche's ability to create L1Ss previously called subnets to scale projects while allowing L1Ss to interact with each other.

Avalanche shooter from the grid is one of the most illustrious examples of this, with L1 dedicated to the Gunz network expanding the in-game skin economy.

“Part of a thriving ecosystem is not just launching tokens, but building builders that build tools on top of this social Fi L1,” Desimone said in X.

Edited by Stacy Elliott.