An undisclosed AI-focused project on the Solana blockchain has managed to gather more than $33 million worth of SOL tokens in a pre-sale within just one hour. The pre-sale details were shared on X by Dexter, an on-chain investigator, who mentioned that this project would be their most ambitious one yet without revealing any further information about it. Despite the lack of information, the wallet address received 159,300 SOL, equivalent to over $33 million, within 50 minutes of Dexter’s post going live. This rapid investment can be attributed to the limited 24-hour pre-sale window.
This mysterious pre-sale took place during a period characterized by heightened investor greed, as indicated by the Crypto Fear and Greed Index, which currently stands at 77, signifying “extreme greed” among investors. However, this index has slightly cooled down from its peak of 90 in February, according to data from Alternative.me.
The Solana blockchain has been attracting increased investor interest, reestablishing itself as a potential competitor to Ethereum. On March 17, Ethereum generated approximately $14 million in fees, while Solana generated around $4 million. The revenue gap between the two platforms has been narrowing, with a difference of $7 million a month ago compared to just $300,000 now, as reported by “Mert | helius.dev,” the CEO of Helius, in a post on X.
Solana has been garnering attention due to the current frenzy surrounding meme coins. Pre-sales for meme coins based on Solana raised over $100 million worth of SOL in the three days leading up to March 18. These Solana-based meme coins have been using a controversial pre-sale model to raise funds for unreleased coins, including Book of Meme (BOME), Nap (NAP), Nostalgia (NOS), and many others.
In related news, a mysterious Bitcoin whale known as “Mr. 100” has become the 14th-largest holder of BTC.