The launch of Pudgy Penguins’ local cryptocurrency, PENGU, on Tuesday set off a remarkable surge in network activity on the Solana blockchain. Transaction counts soared to a staggering 9 million, marking a record high since Solana’s establishment in 2020. This impressive transaction volume eclipsed the combined figures of all other prominent blockchain platforms.
How Did the Airdrop Perform?
Kicking off on December 19 at 8:00 AM ET, the PENGU airdrop quickly drew substantial interest. Participants included holders of Pudgy Penguins, Lil Pudgys, Rogs, and Soul Bound Tokens. Within just an hour, over 100,000 requests flooded in, accompanied by 4.7 million visits to the project’s website. However, the token‘s market price plummeted by over 50% within 24 hours, sparking apprehensions among users.
What Are the Latest Trends in Solana?
Solana maintains its leading position in daily decentralized exchange trading volume and active user addresses. Nonetheless, it trails behind Ethereum, Base, and Tron in stablecoin transfer activity. The total value locked (TVL) approaches $8.8 billion, suggesting a rebound to levels last seen in 2021.
– Pudgy Penguins’ PENGU launch activated unprecedented transaction levels on Solana.
– The airdrop attracted over 100,000 requests and significant web traffic.
– Solana’s TVL nears its peak from two years ago, showcasing resilience.
– Despite recent drops, Solana’s DApps continue to draw considerable locked value.
The Solana ecosystem remains vibrant, with innovative projects and high user engagement, proving its continued relevance in the rapidly evolving cryptocurrency landscape.