The cryptocurrency market is witnessing a shift in investor attention as Salamanca ($DON) emerges as a standout meme coin on Binance Smart Chain (BSC), offering high trading volumes and rapid adoption. With a current price of $0.0009913, the token is gaining traction among traders previously aligned with XRP, raising questions about Ripple’s near-term performance.
Salamanca ($DON), inspired by the fictional Salamanca cartel from Breaking Bad and Better Call Saul, leverages a unique storytelling framework and character-driven branding. Unlike conventional meme coins that rely heavily on internet humor, $DON’s foundation in pop culture narratives has helped it create a distinct market presence. The token has already secured listings on notable platforms such as Gate.io, MEXC, and PancakeSwap, with Gate.io classified among the top-tier global exchanges.
Low-Cost $DON Attracts Retail Traders
Market activity has been strong, and the listing of $DON across multiple centralized and decentralized exchanges coincided with this activity. Despite low volumes since its launch about seven days ago, the token has recorded daily trading volumes above $20 million on average, a sign that investors haven’t lost their taste for it. However, market observers are eyeing the next potential breakout, and they are discussing the possible listing on Binance.
Furthermore, the data shows an even split between trading done via centralized exchanges (CEX) and via decentralized exchanges (DEX), which shows the widespread availability of the options. Compared to the high cost of other defi tokens, the low cost of this token has facilitated participation with a wider range of retail traders, and its technical infrastructure on BSC has facilitated fast and cheap transactions.
With ecosystem enhancements to come and feature updates to increase the token’s utility and transfer functionality, $DON remains very scalable. If exchange momentum is sustained, the token’s market position will also be significantly stronger towards the end of 2025 than it is today, say analysts.
XRP Sees Decline in Derivative and Institutional Interest
While $DON gains momentum, XRP is experiencing a contrasting trend. Despite a recent rebound of over 45% since its April 7 low, XRP remains 31% below its January 2025 high of $3.40. This decline has led to uncertainty about its future trajectory.
Market data indicates weakening sentiment around XRP in the derivatives market. Funding rates have remained neutral since February, showing no dominant bias among traders. Additionally, XRP’s open interest in futures contracts has decreased by 9.6%, now at $3.2 billion. Declining open interest often suggests that price rallies may lack the support of active trading capital.
Investment outflows from XRP-focused products further underscore this sentiment shift. According to CoinShares, XRP-linked exchange-traded products recorded weekly outflows of $37.2 million, ending a nearly two-year streak of consistent inflows. The total outflows for May have reached $28.6 million, highlighting the retreat of institutional interest.
For more information about Salamanca (DON), visit:
Website: https://salamanca.club/
Twitter/X: https://x.com/salamanca_token
Telegram: https://t.me/salamancatoken
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