In the current meme-coin frenzy, traders are ditching Ethereum due to high gas fees, flocking instead to chains like Solana and Avalanche where coins like Bonk and Coq Inu are making astronomical gains.

Sales figures for the mobile device have gone up by a factor of ten since a 30 million BONK airdrop was announced for all owners. At the current price of Solana’s dog-themed meme-coin this means a $700 reward for owning a $599 phone.

Solana’s resurgence is partly fueled by lucrative airdrops from its ecosystem projects, with Jito's recent $250 million distribution being a prime example. This has led to a growing trend of users moving liquidity to Solana in anticipation of similar high-value airdrops from other projects.

For the past two months, the SOL token's price has been on the rise. Rather than financial market whims, this is due to the hard work that developers have been putting into the ecosystem.

The crypto wallet provider announced the launch of a crypto exchange "dedicated to the ideals and principles the industry stands for." It has already secured a license in Dubai.

The new platform eliminates the need for Web3 coding knowledge, enabling developers to add blockchain-based elements through a unified Web2-friendly API. It can also help provide a frictionless gaming environment for non-blockchain-savvy players.

MakerDAO, the largest decentralized stablecoin project, plans to launch its own stand-alone blockchain by potentially forking Solana. This decision, however, is meeting a mixed response from the crypto community.

The payments giant has been accepting USDC payments on Ethereum from card-issuer Crypto.com in Australia since 2021, and will now use the cheaper Solana network to settle cross-border transactions with Merchant Acquirers, Worldpay and Nuvei, which collect payments on behalf of global retailers.