Summary
- It was revealed that Solana and USDC moved on-chain from all centralized exchanges after the Trump meme coin launch.
- Moonshot and Jupiter reportedly created over $30 billion in meme coins in just 10 hours.
- Moonshot and Jupiter emphasized the potential of decentralized exchanges as a reality.
It has been observed that there was a massive outflow of funds from centralized exchanges (CEX) following the launch of the meme coin by Donald Trump, the President-elect of the United States.
Ben Zhou, the CEO of the global cryptocurrency exchange Bybit, stated on X that "yesterday, a large amount of Solana (SOL) and USDC moved on-chain from all centralized exchanges (CEX) and flocked to Trump (TRUMP)."
He mentioned, "Moonshot and Jupiter created over $30 billion in meme coins in just 10 hours without centralized exchanges," adding that "decentralized exchanges (DEX) have already become a reality." Moonshot and Jupiter are Solana-based decentralized exchanges.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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