V2EX Token Surges 8% to $6.1M on Solana Wallet Integration

On July 8th, the on-chain token V2EX on the Solana blockchain briefly surpassed a market capitalization of $6.6 million, marking a new all-time high. At the time of reporting, the token was trading at a market cap of $6.1 million. This surge in market capitalization was driven by the integration of Solana wallet login functionality on the V2EX website, which allowed users to view on-chain addresses and interact with the token more seamlessly.

The V2EX token, created nine months ago, was initially used to experience the product Pump.fun. The token's recent graduation into the external market was necessitated by the need to add Solana wallet login functionality to the V2EX website. This integration inadvertently filled the internal market and allowed the token to enter the external market, leading to the surge in market capitalization.

According to Livid, the founder of the Chinese programmer community V2EX, the $V2EX token is designed to have future interactions with the V2EX community. Currently, about 75% of the total supply of the token is held and has not been sold. The current circulating supply in the market is approximately 25% of the total supply. This controlled release of the token into the market has contributed to its value appreciation.

Livid further stated that users who log in to Solana or bind their wallets can use stablecoins or $V2EX tokens for tipping between users. Additionally, some advanced features on the V2EX platform require holding $V2EX tokens, which has further driven demand for the token. This integration of blockchain technology with the V2EX community has not only enhanced user experience but also contributed to the token's market capitalization surge.