Solana On-chain Token V2EX Surpasses $20 Million Market Cap, Reaching an All-Time High

BlockBeats News, August 8, according to GMGN data, the on-chain token V2EX on Solana has surpassed a $20 million market cap, reaching a new all-time high, currently at $21.6 million with a 24-hour trading volume of $430,000.

Chinese programmer community V2EX founder Livid stated on August 5 that 5 million V2EX tokens were transferred to an early user who has been registered on the V2EX platform for eleven years and is a significant supporter of the community. This user has been consistently accumulating V2EX tokens in large amounts and has never sold any, and their identity will be revealed in the future. Additionally, Livid added 222 SOL in liquidity on PumpSwap. According to forum posts, Livid also distributed V2EX token rewards to some forum users.

BlockBeats previously reported that on July 8, Chinese programmer community V2EX founder Livid mentioned that there will be further integration between the V2EX token and the V2EX community. Currently, Livid holds about 75% of the total token supply and has not sold any. The circulating supply in the market accounts for about 25% of the total supply. The token was created nine months ago to explore the Pump.fun product. The reason for the token graduating (moving to external markets) was to add Solana wallet login functionality to the V2EX website, as there was a demand to view on-chain addresses, inadvertently leading to filling the internal market buy order and moving to external markets. Livid mentioned that users who log in or bind with Solana can use stablecoins or $V2EX tokens for rewards, and some advanced features require holding $V2EX tokens.