The concept of 'Internet Capital Markets' has gained significant traction on the Solana blockchain, allowing companies to launch tokens as a means of marketing and fundraising. This trend, which began in 2024, has seen a surge in activity with the introduction of the Believe launchpad, which shares fees 50/50 with creators. Notable tokens launched on Solana include Vine Coin, JellyJelly, and Dupe, the latter of which saw its market cap peak at $79 million before dropping 77% to $17 million. Other tokens like Creator Buddy and Uber.fun also experienced significant peaks at $23.5 million and $13.7 million, respectively, before falling below $5.5 million. Solana's ecosystem has also seen a rise in private Automated Market Makers (AMMs) like SolFi, ZeroFi, and Obric, which have collectively handled over $81 billion in trading volume in the last three months. These private AMMs focus on internal liquidity management and efficiency, capturing a significant portion of the trading volume on Solana, with SolFi alone processing over $50.5 billion through Jupiter, Solana's leading aggregator. The trading on these platforms predominantly involves $SOL-stablecoin pairs, with SolFi also facilitating significant trading in meme coins like $Fartcoin, while Obric focuses on stableswap for predictable pricing. Solana's performance metrics for Q1 2025 show a 20% increase in Chain GDP to $1.2 billion and a 145.2% rise in stablecoin market cap to $12.5 billion. The platform has also dominated in terms of transaction volume, with 87% of all blockchain transactions occurring on Solana, and it has captured over 50% of total crypto application revenue, showcasing its growing influence in the DeFi space. This growth comes amidst concerns about the sustainability of the 'Internet Capital Markets' trend, with 46% of ICO projects failing and an additional 13% fading away after their initial coin offerings.