BitMEX co-founder and crypto millionaire Arthur Hayes introduced another Solana meme coin project to his followers. As expected, the price of this coin increased after Hayes’ post on the X platform.
Arthur Hayes shared the FLOWER meme coin project
Arthur Hayes introduced the FlowerAI (FLOWER) meme coin on the X platform by sharing the Dextool profile with the phrase “cake”. Considering Hayes’ reputation in the crypto community, this post was enough to cause the coin’s price to increase. FLOWER’s price was at $0.02232 when the post was made, but the coin is currently above $0.03. The coin’s market cap was $22 million at the time of the post, but it reached $30 million after the price rally.
Hayes “shills” many coins
Hayes’ post drew criticism. Some of his followers questioned why such a respected person would promote a coin with a low market cap. On the other hand, some claimed that he was deliberately trying to pump and sell the price of the coin with this post. Hayes has also been interested in low and medium market value coins in the past, in addition to promoting popular Solana meme coins such as Dogwifhat (WIF). At one point, he stated that he bought MOTHER and MOG tokens. He also said that he invested in Solana’s artificial intelligence meme coin Goatseus Maximus (GOAT).
Recently, as we reported at Kriptokoin.com, Hayes introduced the Solana meme coin Deep Worm Price, and the price of this coin increased by 180%. Hayes claimed that the market value of this coin would reach $ 1 billion. However, with the price increase after the introduction, the market value decreased from $ 55 million to $ 41 million.
The Solana ecosystem is growing
Arthur Hayes’ continued promotion of Solana meme coins reveals the positive effects of these coins on the Solana network and the SOL price. The SOL price recently reached a new all-time high (ATH) of $263. This development was made possible thanks to the increasing demand from investors for meme coins on the Solana network. The Solana network continues to record high trading volumes thanks to its meme coin ecosystem. For example, Solana currently ranks ahead of all other networks, including Ethereum, in terms of decentralized exchange (DEX) volume.
According to DeFiLlama data, the Solana network recorded $44 billion in DEX volume in the last seven days and $5 billion in the last 24 hours. During the same period, Ethereum came in second with $17 billion and $2.9 billion, respectively. With prominent names in the crypto industry such as Arthur Hayes promoting these Solana meme coins, it is expected that the Solana network’s trading volume will continue to increase, encouraging more investors to buy and sell these coins.
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