Due to the optimistic outlook from the market regarding Trump's impending inauguration, new funds began to flow in, resulting in Aave's deposits reaching an all-time high.
At the beginning of 2025, as Donald Trump is about to become President of the United States, market sentiment has significantly improved, and the price of Solana has also broken the psychological level of $200, despite Pump.fun bringing about $55 million in selling pressure.
Investor enthusiasm in the entire cryptocurrency market has clearly increased, with everyone looking forward to Trump's inauguration. Meanwhile, Aave's lending platform net deposits have surpassed the historical high set during the bull market in 2021.
The price of Solana rebounded to over $200 following the $55 million SOL sale by Pump.fun.
The price of Solana rose by about 10% to over $200 after Pump.fun transferred $55 million to the Kraken cryptocurrency exchange.
After Solana dropped to $189 around 5 PM UTC on January 1, it began to recover.
Around 6 PM UTC, Pump.fun, as a memecoin launch platform, transferred $55 million of SOL to Kraken, which led to a rise in Solana's price.
According to Solscan data, Pump.fun made two large transfers to Kraken on January 1. The first transfer occurred at 4:37 PM UTC, amounting to $22.8 million of SOL; the second transfer took place at 5:45 PM, amounting to $32.7 million of SOL.
Aave's net deposits have surpassed $33.4 billion, setting a new record.
The net deposits of the decentralized finance (DeFi) platform Aave have reached $33.4 billion, setting a new high for the lending protocol, surpassing levels during the 2021 bull market.
In 2024, Aave further expanded its market influence by adding several platforms, including BNB Chain, Scroll, ZKsync Era, and Ether.fi.
Looking ahead to 2025, Aave may add multiple markets with community approval, including Sonic, Mantle, Ethereum layer two scaling solution Linea, Bitcoin layer two solution BOB, Spider Chain, and Aptos.
After Trump won the US election on November 5, market expectations for a friendlier regulatory environment and cryptocurrency policies drove a surge in the total locked value and trading activity in DeFi.
Solana added $1 billion worth of stablecoins in December.
According to DefiLlama data, Solana added $1 billion in stablecoins in December, primarily in USD Coin (USDC). The inflow of these funds indicates that the use of stablecoins is accelerating, and the growth potential of the Solana network in 2024, particularly in the DeFi sector, is becoming apparent.
Currently, the total locked value (TVL) of stablecoins on Solana is approximately $5 billion, with USDC accounting for nearly $4 billion.
Tether's USDt is the second largest stablecoin on Solana.
Tether's USDt is the second most popular stablecoin on Solana, with a total locked value (TVL) of approximately $1 billion.
Pump.fun's revenue is nearing $400 million, despite a slowdown in the meme coin market.
Although the overall market capitalization of meme coins declined in December, Pump.fun's revenue on Solana still approached $400 million.
According to a report from blockchain analysis platform Lookonchain, Pump.fun has earned 2,016,391 SOL tokens to date, with total revenue nearing $398 million. Additionally, Pump.fun has deposited over $300 million of SOL into Kraken and converted $41 million of USDC.
Pump.fun has performed remarkably at the beginning of the new year, especially after setting a historical record last November, when decentralized application revenue surpassed $106 million, making it the first DApp on Solana to exceed $100 million in revenue.
DeFi Market Overview
According to Cointelegraph Markets Pro and TradingView, as of this weekend, most of the top 100 cryptocurrencies by market capitalization are performing well.
Among the top 100, DeXe (DEXE) as a token for an AI incubator has become this week's biggest winner with a 68% increase. Following closely is the SPX6900 (SPX) token, which has risen over 53% since its launch on Binance Futures on December 10.
