Traders have been using meme tokens as a proxy bet on the growth of Ethereum or other blockchains.

The stablecoin earns yield by shorting ether futures and capturing funding rates - which have surged in the past two weeks.

The tokens have been sold to an undisclosed buyer and will be vested for two years.

Data from CoinGecko shows the AI token category was up 25% on average in the past 24 hours, compared to bitcoin’s 0.3% increase.

Users can create individually owned and compliant bank accounts and use USDC stablecoins as the default deposit currency.

Prices of Solana’s SOL are up nearly 600% over the past year, CoinGecko data shows.

Local market observers pointed out that the so-called “Kimchi premium” crossed a two-year high mark on Thursday.

IBIT’s total inflows surpassed the $9 billion mark on Tuesday and show no signs of easing nearly two months after going live.

Some meme coins are surging in anticipation of more exchange listings in the coming months.

Crypto markets slid as much as 10% in the past 24 hours, but have quickly been bought up by bulls.