The next time the “election event” happens, should I choose Solana or Ethereum to buy Meme?

By: Luccy, BlockBeats

As soon as the news of the Trump shooting came out, dozens of memes jumped up. FIGHT and EAR quickly became a new round of 100-fold coins. However, not everyone can take advantage of the first wave of meme gains in time. If you are not willing to wait for the next explosion, you should hurry up and get on the train. Ethereum and Solana are recognized as the most profitable chains for memes, but which one would you choose?

Several sets of data, let’s see which meme store is better?

In the meme craze in recent months, event-based memes, celebrity coins and PolitiFi are the main categories of meme. Among them, the three memes that have representative targets on both Solana and Ethereum are GME, JENNER and FIGHT.

BlockBeat selected the above three groups of meme coins that performed best on Solana and Ethereum, and conducted a comparative analysis in terms of currency issuance efficiency, liquidity and duration.

Time efficiency comparison: Solana has a first-mover advantage

Time efficiency refers to the time it takes to publish a meme on Solana and Ethereum after relevant events occur. Since meme has a serious PvP phenomenon, whoever issues coins first will have an easier time gathering funds. The earlier buyers enter the market, the easier it will be to make a profit.

On May 13, the GameStop U.S. stock market soared. Roaring Kitty, the "retail stock god" behind the GME short squeeze, returned to the public eye after three years, and his meme currency GME of the same name became the hottest target of speculation at the time. Since GME is not a new concept, the original GME token was deployed on Solana. Then around 6 pm on the 13th, a new GME was deployed on Solana, and the first GME on Ethereum was released on 12:30 noon that day.

The picture on the left shows the new GME on Solana, and the picture on the right shows GME on Ethereum

But when faced with a completely new concept that wants to issue coins, Pump.fun has lowered the threshold for meme release. , undoubtedly making Solana the fastest public chain to publish memes.

On May 27, Kardashian’s father and transgender woman Caitlyn Jenner used Pump.fun to release the meme token JENNER, and in the comment area, she added a series of crypto community meme OGs such as Ansem and Paul to warm up the token. . On the third day after JENNER popularized the concept of "Celebrity Coin", the meme of the same name appeared on Ethereum.

The picture on the left is JENNER on Solana, and the picture on the right is JENNER on Ethereum

On July 14, Trump was shot in the ear while speaking at a campaign rally and was being guarded by security During the cover, he also raised his right fist high and shouted "Fight". Just 15 minutes after the news was released, 24 FIGHTs poured out on Solana. Among them, the FIGHT with the best growth was released at 6:50 am on the 14th. Although the number of FIGHT on Ethereum is equivalent to that of Solana, the earliest meme appeared at 9 a.m. on the 14th, 2 hours later than Solana.

The picture on the left is FIGHT on Solana, and the picture on the right is FIGHT on Ethereum

Liquidity comparison: Ethereum has better liquidity

Liquidity is the most intuitive way to see the basics of a currency Information indicators reflect its growth potential and ease of buying and selling. Assets with high liquidity reflect that they are "priced and marketable" in the market, and investors can flexibly buy and sell them; conversely, low liquidity means that assets are "priced but not marketed" and are more difficult to sell on the market.

On the one hand, since the hype of GME has faded, liquidity has basically exited. On the other hand, as mentioned earlier, GME is not an emerging concept, and most of its liquidity is concentrated on the most original tokens. Only the newly released GME is compared here.

GME liquidity on both Solana and Ethereum is less than 10 million, but GME liquidity on Ethereum is still about 80 times that of Solana. Ethereum’s GME still has a trading volume of $250,000, and the buying and selling volume is basically flat, while Solana’s GME has a trading volume of only $690.

The left picture shows the new GME on Solana, the middle picture shows the initial GME on Solana, and the right picture shows GME on Ethereum

JENNER on Ethereum was released 3 days later than Solana, but its flow Its performance is not worse than Solana, and it is even slightly ahead with $293,000, and its trading volume is 6 times larger than Solana. Since the issuance of the currency, the market value of JENNER on Ethereum has reached US$2 million, but the market value of JENNER on Solana is only US$709,000, which is about one-third of Ethereum.

The picture on the left is JENNER on Solana, and the picture on the right is JENNER on Ethereum

FIGHT is a new meme launched during a long period of market downturn, and is still in the period of public opinion hype. Although FIGHT was first launched on Solana and can achieve an increase of more than 600 times at most, for now, liquidity is gradually concentrated on Ethereum, which has a liquidity of $1.4 million, which is about twice that of Solana. However, the market value of FIGHT on Solana is lower, and futures buying orders are greater than selling orders, while the buying and selling orders on Ethereum are almost equal.

The picture on the left shows FIGHT on Solana, and the picture on the right shows FIGHT on Ethereum

Duration comparison: Ethereum’s increase is more sustained

Unlike JENNER and FIGHT, GME occurs during emergencies As a concept that existed before, in the subsequent hype, the "GME consensus" of the encryption market gradually converged into the "old GME" of the Solana ecosystem, staying at a high level in sync with the US stock GME.

But if you only compare the many new "GME imitation disks", you can still see that GME deployed on Ethereum has been favored by more degens due to "Ethereum ecology + low circulation market value", and has gained dozens of times in two days, while Because the Solana ecosystem already had GME-related meme coins, the new coins died quickly after a short-term rise, and their survival time was only one day.

The picture on the left is the new GME on Solana, and the picture on the right is GME on Ethereum

JENNER achieved a 160-fold increase on Solana in just one night, but only 3 days after the coin was issued There is a clear tendency to return to zero. JENNER on Ethereum reached a local high 3 days after its release, and then on June 11, more than a week after the release of the currency, it still reached a new high of $0.007. After that, it still maintained around $0.005 for several weeks. , it was not until early July that there was an obvious downward trend.

The picture on the left is JENNER on Solana, and the picture on the right is JENNER on Ethereum

FIGHT is the most popular Trump concept meme in recent days. The trend of FIGHT on Solana has increased three times. point. The first high occurred at 11:45 a.m. on the 14th, and the price began to fall after maintaining around $0.004 for nearly an hour. Price bottomed out at $0.002 6 hours later, with FIGHT rising to a local high of $0.013 around 10:30 pm. Sell ​​orders then increased, and FIGHT fell sharply back again, before recovering here early today.

FIGHT on Ethereum has been in rising mode since its release. As of writing, the price is $0.034, an increase of 164 times. Although it is not as high as Solana’s 400-fold increase, its trend is safer and healthier.

The left picture shows FIGHT on Solana, the right picture shows FIGHT on Ethereum

Meme still has a hundredfold opportunity

From GME to JENNER to FIGHT, the problem of meme hype is becoming more and more obvious, that is, there are more and more tokens with the same name. This is partly due to the reduced functionality of currency issuance platforms such as Pump.fun. Meme publishing threshold, when you open dex and face dozens or hundreds of tokens with the same name, it is difficult to judge which meme should be released in a short period of time.

The era in which everyone can issue coins has gradually led to the problem of consensus fragmentation. It has almost become a safe method to instantly pull the market to sell and move on to the next meme. This phenomenon is even more obvious on Solana. Although it has the first-mover advantage in issuing coins, the risk of attracting subsequent funds is higher. In contrast, the performance of Ethereum memes is more stable.

Wen Yue, co-founder of DaMoon Lab, compiled a comparison of Dex transactions in various ecosystems. As can be seen from the figure, the current phenomenon-level tokens still revolve around the Trump concept. Affected by this, the Ethereum mainnet Dex transaction volume has almost doubled. times, surpassing Solana again after 10 days. Wenyue pointed out that FIGHT still occupies a dominant position, and in the battle for FIGHT, the token of the same name on Ethereum also overwhelms one.

Picture source: @_wmoon

After a long period of silence in the market, the Trump shooting case once again triggered the meme fever, although everyone shouted a hundred times "Golden Dog" almost all from Solana was born, but if you entered the game late and don’t want to join Solana’s PvP, then give Ethereum a little patience, and you may be able to earn the same hundred times.

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