Solana Meme Coin GIGA Surges After High-Profile Endorsements from Gigachad and Other Influencers
Solana-based meme coin Gigachad (GIGA) recently experienced a remarkable 15% surge, fueled by endorsements from prominent internet figures and celebrities. The surge in GIGA’s value followed a high-profile endorsement by Ernest Khalimov, the iconic figure behind the “gigachad” meme, on his Instagram account. Khalimov, known for his hyper-muscular physique and chiseled features, has become a symbol of the internet’s “chad” persona, often representing the epitome of alpha masculinity.
The gigachad meme has been a staple in internet culture for years, and its influence has now extended into the world of cryptocurrency with the creation of the Solana-based token GIGA. The coin’s rise to fame has been further bolstered by endorsements from other well-known figures, including UFC fighter Paulo Costa and renowned bodybuilder Mike “Titan” O’Hearn. These endorsements have played a significant role in boosting GIGA’s popularity and market presence.
The GIGA team attributes much of this success to their innovative sports brand, Giga Fitness, which they actively promote alongside the coin. This dual approach of combining a trending cryptocurrency with a lifestyle brand has resonated with a broad audience, particularly those interested in fitness and the “chad” culture.
On Tuesday, Mike O’Hearn shared a meme referencing the gigachad persona, further amplifying the coin’s visibility within the fitness community. Ernest Khalimov then took the momentum to another level by posting an Instagram video of himself casually tossing a Giga Fitness t-shirt, a post that quickly went viral, garnering over 91,000 likes within just 20 hours. Khalimov’s continued promotion of Giga Fitness on his Instagram has significantly increased the coin’s exposure, drawing attention from both crypto enthusiasts and the fitness community.
The impact of these endorsements on GIGA’s market performance has been substantial. Following the social media buzz, GIGA’s market capitalization soared to an impressive $213 million before stabilizing at $210 million, according to data from CoinMarketCap. The coin is currently trading at $0.02279, reflecting a remarkable 48% increase over the past seven days.
As GIGA continues to gain traction, its unique blend of internet culture, fitness branding, and cryptocurrency innovation positions it as a standout project in the Solana ecosystem. The coin’s success underscores the power of influencer endorsements in the rapidly evolving world of digital assets.
Phoenix Rising: Pioneering the ‘One-Stop Shop’ for DeFi on Stellar
The DeFi landscape on the Stellar network is rapidly evolving, with Phoenix emerging as a trailblazer in this burgeoning ecosystem. Leveraging the newly launched Soroban smart contract platform on Stellar, Phoenix is building a comprehensive suite of decentralized finance (DeFi) solutions that aim to become the go-to hub for all things DeFi on the network.
The recent introduction of Soroban has sparked a wave of innovation among developers eager to create decentralized apps (dapps) and platforms within the Stellar ecosystem. Phoenix is among the first to capitalize on this opportunity, with its creators describing it as the “one-stop shop” for DeFi on Stellar.
“We’re planning to launch a series of DeFi protocols that are designed to work seamlessly together and enhance value within the ecosystem,” explained Griffin Williams, Phoenix’s Marketing Director. The journey began with the launch of a decentralized exchange (DEX) in May, which was just the first step in a broader plan that includes the introduction of an NFT marketplace and more.
Phoenix Co-Founder and Smart Contract Lead Jakub Bogucki highlighted the strategic importance of starting with a DEX, noting that token exchange is the fundamental function upon which DeFi is built. “After the NFT marketplace is up and running, we intend to roll out additional protocols that will not only enrich the user experience but also offer more ways for users to strategically manage their funds,” Bogucki added.
The focus on user experience is central to Phoenix’s strategy. “We’re really end-user focused,” said Milan Steiner, Phoenix Co-founder and Frontend Lead. He emphasized that Stellar is the ideal blockchain for this approach, citing the network’s robust on- and off-ramp capabilities through Stellar Anchors. The emphasis on stablecoins within the Stellar network also makes it an excellent entry point for newcomers to DeFi, according to Steiner.
In alignment with this vision, Phoenix has joined the Circle Alliance Program, with plans to integrate Circle assets like USDC more deeply into its ecosystem. This move is expected to enhance liquidity and provide additional benefits to users, further solidifying Phoenix’s position as a leading DeFi platform on Stellar.
To attract more seasoned DeFi enthusiasts, Phoenix is planning a series of airdrops targeting the Polkadot and Solana ecosystems. This strategy aims to draw in users from other blockchain networks, broadening the platform’s reach and user base.
While Stellar may have entered the smart contract space later than some of its competitors, Bogucki believes this has allowed the network to learn from the industry’s earlier challenges. The Soroban platform, built on the Rust programming language, offers developers a host of unique features designed to maximize efficiency. “Soroban is designed for ultra-fast cross-contract calls, with an emphasis on minimizing transaction costs and efficient storage use,” Bogucki explained. The platform also provides a comprehensive SDK and excellent documentation, making it easier for developers to deploy and test smart contracts.
Steiner added that the Soroban platform’s responsiveness to developer feedback is another significant advantage. “We can actively contribute to shaping the tech stack, and the platform responds to developer input within weeks or months, which is incredibly valuable,” he said.
As Phoenix gears up to launch its NFT marketplace and additional protocols, including a “surprise protocol” that is still under wraps, the team remains focused on pushing the boundaries of what’s possible on Stellar. Bogucki expressed confidence in Stellar’s leadership and vision, noting that the network’s steady direction and clear goals make it a solid foundation for ambitious projects like Phoenix.
With its innovative approach and strong alignment with Stellar’s capabilities, Phoenix is well on its way to establishing itself as a cornerstone of DeFi on the Stellar network.
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Credit : Coinmarketcap
