Blockchain protocol is used to create almost every token, memecoin, and NFT on Solana. MetaplexNovember saw record-breaking protocol fees on Solana along with a spike in digital asset creation.
The increase in Solana token creation adds a record to the protocol.
Metaplex, the protocol behind almost all token creation on Solana, has emerged as the primary beneficiary of the phenomenal increase in digital asset creation on the Solana network.
This rapid level of activity, which includes everything from Memecoins to AI tokens to NFTs, contributes directly to Metaplex’s protocol fees. In addition, protocol fee generation funded record-breaking $MPLX token purchases for the Metaplex DAO.
From June 2024, 50% of the previous month’s protocol fee and part of the past fee for participation in the DAO. $MPLX Dedicated to financing the purchase of tokens.
In November 2024, it will cost 12 thousand SOL. $MPLX – The equivalent of nearly $3 million at current prices, representing 58 percent and the largest monthly increase. $MPLX This refers to the purchase of tokens.
Carrying on this momentum, Metaplex’s November protocol fee hit an all-time high of $3.5 million, setting the stage for even higher allocations for $MPLX purchases in December.
Protocol activity in November broke previous records on several metrics:
- metaplex, 1.4 million new Token Printing October 2024 has seen phenomenal growth in the creation of fungible tokens. A 56% increase from last month’s all-time high. And a new monthly record. It represents 94% of all token metadata assets, primarily driven by memecoin activity on platforms like Pump.fun.
- Metaplex Core, the next-generation NFT standard, is popular thanks to the wide range of use cases made possible by the standard’s flexible design. Reaching an all-time high with 354k assets showed significant adoption.
- Number of unique wallets interacting with the Metaplex protocol 879 Good Arriving in October A 34 percent increase showed and reached an all-time high. The protocol’s total collector base grew by over 860 thousand in November alone, reaching nearly 60 million unique wallets.
Metaplex is the leading decentralized protocol on Solana and SVM, providing tools and programs for developers and creators to build decentralized applications that use digital assets. With its growing user base and commitment to innovation, Metaplex is powering the next wave of decentralized finance and commerce.
The Metaplex Foundation is a Cayman Islands non-profit organization dedicated to supporting the development and growth of the Metaplex Protocol. The Foundation empowers developers, creators and users around the world to participate in a decentralized and inclusive digital economy by providing open source tools and resources.
Website: https://www.metaplex.com/
X: https://x.com/metaplex
Differences: https://discord.com/invite/6FaDSP2zms
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
