The Solana network has experienced a significant increase in activity due to the good performance of Pudgy Penguins (Pengu) and the recent pump launch, Pump.Fun Token, its ecosystem memokine creation platform.
Over the past seven days, Solana has attracted $100 million from other networks. This is a 40% increase in capital flow compared to the week from June 30th to July 6th.
According to data from The Artemis Explorer, 49.3 million people came from Ethereum. It was followed by Arbitrum, with $14.1 million, polygon, $7.5 million, and $2.6 million from the BNB chain. Other combination networks added a $4.2 million flow to Solana.
This rebound coincides with the pump launch. As reported by Cryptonotics, the Pump.Fun team launched its first offer of token coins on Saturday, July 12th. It was exhausted in just 12 minutes.
In total, 12.5% of the total supply (125,000 million tokens) was provided at $0.004 each, reaching a $500 million collection.
In addition to the FOMO produced by the pump, it should be noted that Pengu is one of the few digital assets that show strength despite the decline in price for Bitcoin (BTC).
Over the past seven days, the price of penguin tokens has grown from $0.015 to $0.032, representing a weekly increase of 115%. at the moment, This is a digital asset with the highest performance by the top 100 market capitalization.
One reason to explain the good performance of the asset is that CBOE BZX was presented to the U.S. Stock Exchange and the Securities Commission (SEC) and filed the 19B-4 form to list the cited background (ETF) based on PENGU.
For Analyst Eric Barkunas Bloomberg Intelligenceapprovals may occur until March 1, 2026, indicating a significant change in regulatory approaches for this type of assets.
This added a context in favour of Solana Red, as he made his staking debut in Solana (Sun) ETF on July 2nd with the Chicago Options (CBOE).
This product is not directly linked to Pengu, Such news tends to spark interest in other assets related to the same network.
