Solana Achieves Record DEX Volume Exceeding $100 Billion in November
The Solana community reported over $109 billion in decentralized trade (DEX) buying and selling quantity for November 2023, marking the primary time it has surpassed the $100 billion threshold.
The Solana community reported over $109 billion in decentralized trade (DEX) buying and selling quantity for November 2023, marking the primary time it has surpassed the $100 billion threshold.
This determine almost doubles the Ethereum mainnet’s DEX quantity of roughly $55 billion for a similar month.
Eden Au, Analysis Director at The Block, famous that the latest uptick in quantity will possible entice extra retail buyers, significantly because the cryptocurrency market seems poised for a possible bull run in 2025.
Retail speculators are anticipated to hunt alternatives within the meme coin sector as liquidity from bigger markets begins to move downwards.
Moreover, Solana-based token platforms equivalent to Pump.enjoyable and Raydium have seen vital will increase in month-to-month charges, reaching file highs of $71.5 million and $182 million respectively, in line with DefiLlama knowledge.
In the meantime, the worth of Solana’s native cryptocurrency, SOL, is at present buying and selling at $255, following a latest market rally that noticed it exceed its earlier all-time excessive of $263 set in 2021.
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