NYC Mayor’s $NYC Meme Coin Launch and Collapse

Former New York City Mayor Eric Adams announced a Solana-based meme coin called $NYC, which briefly reached a $600+ million market cap before collapsing over 80 percent to around $90 million in less than an hour. Reports indicate nearly $3.5 million was removed from the liquidity pool during the crash. $1.5 million was subsequently reinjected into the LP. 

Savvy traders who caught wind of the posts by Mr. Adams on X had a brief window to capture some portion of the near 600% price rise before the ATH. The event underscores the volatility of meme coin launches on Solana, where trading volume and liquidity dynamics can shift within seconds.

Morgan Stanley Files for Solana ETF

Morgan Stanley filed an S-1 registration with the SEC for a spot Solana ETF, signaling a significant step toward mainstream institutional participation. The filing follows similar approvals for Bitcoin ETFs and growing inflows into existing Solana ETFs (Bitwise, Grayscale, Fidelity, and others) which reached $41.1 million last week and now total over $1 billion in AUM.

Analysts suggest that Morgan Stanley’s entry could increase liquidity, visibility, and credibility for Solana as a primary onchain asset class. 

X Integrates Solana Token Cashtags

X (formerly Twitter) plans to introduce Smart Cashtags for Solana tokens, enabling live charts, key metrics, and potentially related news feeds to appear directly in posts. The update may accelerate retail awareness and memecoin trading activity. It may also bring a measure of increased security as the tickers can be tied directly to specific contract addresses preventing some of the rampant confusion from copy-cat and “vamping” launches.

The integration bridges social visibility and onchain activity, reinforcing Solana’s presence across real-time trading networks. Combined with Trojan's in-app X-tracker feed, a whole new level of speed to execution may soon be realized.

Solana Privacy Hackathon Launches

A new $70,000 Solana Privacy Hackathon opened on the 12th and will run through January 30. The event focuses on privacy infrastructure such as private payments and encrypted trading. It comes amid broader privacy discussions in crypto, following the rapid rise and broadly discussed departures at Zcash and a renewed interest in privacy coins like Monero, which recently hit an all-time high, despite regional restrictions.

The Wrap Up

The pace of Solana’s development continues to accelerate, spanning memes, institutional products, and technical innovation. Each advancement pushes onchain markets toward higher speed and transparency. For traders navigating this landscape, Trojan provides the edge to act in real time, analyze live data, and execute with precision.