According to Odaily Planet Daily, Alex Svanevik, CEO of Nansen, an on-chain analysis platform, launched a Solana-based Meme coin called IQ. According to the encrypted data platform DEXScreener, IQ's market value grew to $5 million within one day of its launch. As of 11:22 a.m. EST on July 31, the token was priced at $0.0061, a 24-hour increase of 7,000%.