The trading volume of Solana-based meme token Slerf exceeded all Ethereum-based decentralized exchanges on the first day of its launch. Data shows that Slerf’s trading volume in the past 24 hours exceeded $2.7 billion, involving 800,000 transactions from 130,000 individual traders. By comparison, transaction applications on Ethereum have cumulatively processed $2.3 billion.

Slerf was born after a token pre-sale, which raised $10 million. The developer accidentally sent the raised funds to a crypto wallet address that was not controlled by anyone, thereby losing access to the funds. However, this has not stopped the market from going crazy buying and trading the token. Slerf was eventually listed on the Solana exchange, where the price surged from nearly 3 cents to $1.4 in just a few hours.

SLERF developers are working to make the presale participants complete by requesting donations from the Solana community. Some cryptocurrency exchanges have pledged to deposit SLERF transaction fees into donation addresses. To date, more than $450,000 has been raised in donations.