Meme Insider
If you're deep into the crypto world, especially meme tokens, keeping tabs on on-chain data is crucial. That's where reports from Lookonchain come in handy. Their latest weekly roundup for October 26 to November 2, 2025, shared via this tweet, packs a punch with visuals on stablecoin movements, DEX trading volumes, DeFi total value locked (TVL), and top-earning protocols. Let's break it down in simple terms and see what it means for the meme token scene.
Stablecoin Flows Across Top Chains
Stablecoins like USDT and USDC are the lifeblood of crypto trading—they're pegged to the dollar and used for everything from buying meme tokens to providing liquidity. This chart shows how their supplies changed over the past seven days on the top 15 blockchains.
Ethereum stole the show with a massive inflow of +$3.42 billion, signaling strong investor confidence and potential for more activity in its ecosystem. On the flip side, Plasma saw the biggest outflow at -$1.91 billion, which could indicate capital shifting elsewhere.
For meme token fans, keep an eye on chains like Solana (-$41 million) and Base (+$74 million). Solana, a hotspot for memes thanks to low fees and fast transactions, had a slight dip, possibly due to market volatility. Base, another meme-friendly layer-2 on Ethereum, saw gains that might boost its meme launches.
Here's a quick table of the changes:
| Chain | Change (7D) |
|---|---|
| Ethereum (ETH) | +$3.42B |
| Base | +$74M |
| Hyperliquid | +$63M |
| Polygon (POL) | +$34M |
| Optimism (OP) | +$33M |
| Mantle (MNT) | -$0.1M |
| BSC (BNB) | -$9M |
| Noble | -$14M |
| Solana (SOL) | -$41M |
| Avalanche (AVAX) | -$95M |
| TON | -$140M |
| Aptos (APT) | -$219M |
| Sui (SUI) | -$316M |
| Arbitrum (ARB) | -$787M |
| Plasma | -$1.91B |
These shifts can influence where meme tokens thrive—more stablecoins often mean more liquidity for wild pumps.
DEX Volumes: Spot and Perpetual Trading
Decentralized exchanges (DEXs) are where a lot of meme token action happens. The report splits volumes into spot (regular buys/sells) and perps (perpetual futures for leveraged trading).
Spot volume hit $112.05 billion, down 1.38% week-over-week (WoW). Uniswap led with $29.86B but dropped 33.41%, while Meteora on Solana grew 16.81% to $8.69B—good news for Solana-based memes.
Perps volume climbed to $321.28B, up 2.98% WoW. Aster topped at $74.66B (down 2.25%), but Lighter surged 21.83% to $70.73B. This uptick in perps suggests traders are betting big on volatility, which often spills into meme markets.
For meme tokens, higher DEX volumes mean easier trading and potentially bigger hype cycles, especially on platforms like Uniswap or Solana's Meteora.
Top DeFi Chains by TVL
Total Value Locked (TVL) measures how much crypto is staked or locked in DeFi protocols— a key indicator of ecosystem health.
Ethereum remains king at $81.65B, despite an 8.59% drop WoW. Solana follows at $10.86B (down 8.39%), with BSC at $7.96B (down 8.22%). All top chains saw declines, pointing to a broader market pullback.
Meme tokens often rely on these chains for liquidity pools and farming. A dip in TVL could mean less capital for new launches, but rebounds might spark the next meme frenzy.
| Chain | DeFi TVL | WoW Change |
|---|---|---|
| Ethereum | $81.65B | -8.59% |
| Solana | $10.86B | -8.39% |
| BSC | $7.96B | -8.22% |
| Bitcoin | $7.92B | -5.28% |
| Tron | $5.12B | -11.55% |
| Base | $4.97B | -7.21% |
| Plasma | $3.97B | -6.64% |
| Arbitrum | $3.31B | -9.16% |
| Hyperliquid L1 | $2.21B | -8.87% |
| Avalanche | $1.7B | -13.34% |
Protocol Revenues and Growth
Finally, the report highlights top protocols by weekly revenue and the fastest growers.
Tether (issuer of USDT) raked in $163.46M, flat at 0.45% growth. Circle (USDC) followed at $55.45M (down 0.25%). Notably, pump.fun, the Solana meme token launcher, made the top 5 with $10.35M and 18.71% growth— a direct win for the meme community.
On the growth side, Launch Coin on Believe exploded 3497% to $203K, showing how niche protocols can surge.
This underscores the revenue potential in meme ecosystems, where tools like pump.fun enable quick token creation and trading.
What This Means for Meme Tokens
Overall, the report paints a picture of a consolidating market with pockets of growth. Ethereum's stablecoin inflows could stabilize the broader ecosystem, benefiting layer-2s like Base for meme plays. Solana's mixed signals—outflows but strong DEX performance via Meteora and pump.fun—suggest memes there aren't slowing down.
If you're trading or launching meme tokens, watch these metrics closely. They can signal where the next hot chain or protocol might be. For more on-chain insights, follow Lookonchain on X.
Stay tuned to Meme Insider for more breakdowns on how crypto trends impact the wild world of memes!
