Bankless · Friday, July 3, 2026
The Solana ecosystem is experiencing renewed activity, largely fueled by a resurgence in meme coins and a trend referred to as 'CTOing,' where influencers revitalize abandoned meme coins. A meme coin associated with trader Ansem has reached a $160 million market cap and is airdropping tokens to the Solana community, leading to a 15% price increase in SOL. This activity is also boosting other DeFi protocols on Solana.
“So, like, you know, and some, like, famous crypto Twitter trader kind of spawned the whole, like, celebrity meme coins of last cycle. The meme is, like, they are CTOing Sol. Yeah. What's CTO mean? I mean, it's chief technical officer. But when you CTO a meme coin, it's like an meme coin has been abandoned. You become an ambassador of it.”
“Somebody minted a token with ticker Ansem, which is the name of Ansem. The Black Bull, that's the name of it. Sent a very large amount of the supply to Ansem and Ansem claimed it. And then now he gets the trading fees and he has endorsed it. And this meme coin is now up to like $160 million market cap, which is pretty crazy. In the depth of a bear market, yeah.”
“So there's activity happening over there. And it's all down from like Ansem and his crew, like pumping the hell out of this meme coin and then airdropping. They're trying to give you like people in the trenches, stimmy checks is the meme. And so they're dishing out all these stimmy checks so people can go back to the casino and go gambling again.”