Due to the optimistic outlook for Trump's upcoming inauguration, new funds have started to flow in, leading to Aave's deposits reaching an all-time high.
At the beginning of 2025, as Donald Trump is about to become the President of the United States, market sentiment has surged significantly, and Solana's price has also broken through the psychological price level of $200, despite Pump.fun bringing about $55 million in selling pressure.
Across the entire cryptocurrency market, investor enthusiasm has noticeably increased, with everyone looking forward to Trump's presidency. Meanwhile, Aave's lending platform net deposits have exceeded the historical peak during the 2021 bull market.
The price of Solana rebounded to over $200 after the $55 million SOL sale by Pump.fun.
After Pump.fun's fee account transferred $55 million to the Kraken cryptocurrency exchange, the price of Solana rose by about 10%, exceeding $200.
Solana began to recover after dropping to $189 around 5 PM UTC on January 1.
Around 6 PM UTC, as the memecoin launch platform Pump.fun transferred $55 million in SOL to the Kraken exchange, the price of Solana began to rise.
According to Solscan, 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 in SOL; the second transfer occurred at 5:45 PM, amounting to $32.7 million in 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 several new markets with community approval, including Sonic, Mantle, the Ethereum Layer 2 scaling solution Linea, the Bitcoin Layer 2 solution BOB, Spider Chain, and Aptos.
After Trump won the U.S. election on November 5, market expectations for a friendlier regulatory environment and cryptocurrency policies drove a surge in DeFi's total locked value and trading activity.
Solana added $1 billion in stablecoins in December.
According to DefiLlama, Solana added $1 billion in stablecoins in December, primarily consisting of USD Coin (USDC). The influx of these funds indicates that the use of stablecoins is accelerating, and Solana's growth potential in 2024, especially in the DeFi sector, is becoming evident.
Currently, the total locked value (TVL) of stablecoins on Solana is about $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 about $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, the revenue of Pump.fun, the meme coin generation platform on Solana, is still nearing $400 million.
According to a report from blockchain analytics platform Lookonchain, Pump.fun has earned 2,016,391 SOL tokens to date, with total revenue approaching $398 million. Additionally, Pump.fun has deposited over $300 million in SOL to Kraken and converted $41 million in USDC.
Pump.fun performed exceptionally well at the beginning of the new year, especially since it set a historical record in November last year, with decentralized application revenue exceeding $106 million that month, becoming the first DApp on Solana to generate over $100 million in revenue.
DeFi Market Overview
According to data from Cointelegraph Markets Pro and TradingView, as of this weekend, most of the top 100 cryptocurrencies by market capitalization have shown an upward trend.
Among the top 100, DeXe (DEXE), as a token for an AI incubator, has become the biggest winner of the week 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.
