The frenzy of on-chain speculation continues to heat up, with old meme coins and new algorithmic stablecoins dancing together.

BlockBeats News, May 10th. With the market rebounding, on-chain activity continues to heat up. In the Solana ecosystem, the OG meme coins TROLL and GIGA saw significant surges, while Ethereum's focus remained on coins utilizing the Hook mechanism.

According to GMGN data, TROLL surged by 81.2% in the past 24 hours, with a market cap of $83.9 million;

GIGA recorded a 24-hour surge of 49.8%, with a market cap of $37.13 million;

On the other hand, Ethereum's mainnet saw continued hype around coins utilizing the Hook mechanism.

Among them, LOOP was launched and saw a rapid market cap increase to $3 million before dropping back to $2.55 million. It is noted that the innovation of this coin lies in its ability to lend out idle ETH from Uniswap V4 liquidity pools (originally used only as capital to support trading).

The leading coin SATO approached its historical high this morning, currently sitting at $28.59 million, with a 24-hour increase of 21.14%.