Solana News: Meme Coin Revival Led by Solana’s ‘Morning Routine’ Hitting $19M Market Cap

The world of cryptocurrency is buzzing once again with the revival of meme coins, and Solana-based ‘Morning Routine’ is leading the charge. With a market cap of $19 million, investors are taking notice and the meme coin fire is being reignited.

Meme Coin Revival in Full Swing: Solana’s “Morning Routine” Hits $19M Market Cap

Meme coins are experiencing a revival, with a new generation of tokens capturing viral momentum. At the center of this are two breakout stars: Solana-based meme coin “Morning Routine” (ROUTINE) and Ethereum-based Dragoin ($DDGN). Morning Routine has seen a significant surge in popularity, hitting a $19M market cap. This follows a sudden wave of attention reigniting the meme coin fire, with investor energy returning and market caps climbing.

Hyperliquid Delists Solana-Based Meme Coin JELLYJELLY Amid Liquidation Crisis

Decentralized exchange Hyperliquid delisted perpetual futures for the Solana-based meme coin JELLYJELLY on Wednesday. The move was described as critical to ensuring the network’s integrity amid a looming liquidation crisis. Hyperliquid uses its own high-speed blockchain built upon the Ethereum layer-2 network Arbitrum. The decision came after a Hyperliquid user opened a $6 million 20x Leveraged short on JELLYJELLY that became toxic as the meme coin’s price rose, leading spectators to speculate that the user may have intentionally tried to liquidate themselves. This forced the decentralized exchange to take over the bad bet.

Wyoming State Gears Towards Launching a Stablecoin This Year

Wyoming state is making steps towards launching a stablecoin later this year, which could be the first fiat-backed and fully reserved token issued by a public entity in the U.S. The Wyoming Stable Token (WYST) is currently being tested on Avalanche, Solana, Ethereum, Arbitrum, Optimism, Polygon, and Coinbase’s Base testnets. The state is working with LayerZero, a blockchain interoperability firm, to facilitate token deployment across these networks. Governor Mark Gordon and Wyoming Stable Token Commission Executive Director Anthony Apollo said that the token’s testing phase will continue through the second quarter, with a potential full launch targeted for July.

Wyoming Unveils State-Issued Stablecoin WYST

Wyoming has announced the launch of its state-issued stablecoin, WYST, scheduled for July. The Wyoming Stable Token (WYST) is potentially the first fiat-backed and fully reserved stablecoin issued by a US public entity. The announcement was made on March 26 at the DC Blockchain Summit, where Wyoming Governor Mark Gordon and Executive Director Anthony Apollo discussed the state’s leadership in blockchain regulation and digital asset innovation. WYST has been deployed on testnets for Ethereum, Solana, Avalanche, Arbitrum, Optimism, Polygon, and Base, using valueless tokens for initial testing.