Primarily based on DeFiLlama knowledge, decentralized exchanges on the Solana blockchain set a brand new month-to-month file for buying and selling quantity, exceeding $60.34 billion in March.

This achievement is greater than double the earlier file of roughly $28.14 billion set in December 2023, making it the second-highest transaction quantity amongst all blockchains, surpassed by Ethereum's 77.55 billion in the identical month. It was solely $10,000.

BSC had the third highest DEX buying and selling quantity with $47.81 billion, adopted by Arbitrum in fourth place with $27.74 billion. Notably, BASE's buying and selling quantity elevated nearly sevenfold to his $7.8 billion in the identical month.

meme coin craze

The surge in buying and selling volumes has been highlighted inside the Solana ecosystem, highlighted by new entrants comparable to E book of Meme (BOME) and Slerf (SLERF), in addition to notable performers comparable to Dogwifhat (WIF) and Bonk (BONK). coincides with an enormous curiosity in meme cash.

Meme cash related to politicians comparable to Donald Trump and Joe Biden additionally rose in March.

Different meme cash on Solana, comparable to Popcat (POPCAT), additionally noticed vital good points, growing in value by 45% to over $0.33.

Regardless of typical volatility within the meme coin market, Dogwifat ended March up 43.9% and Bonk ended the month up 1.3%.

Main DEX

Orca led the Solana DEX area with $3.6 billion in buying and selling quantity final week, adopted by Raydium and Phoenix with $1.73 billion and $1.6 billion, respectively.

The elevated buying and selling exercise throughout this era has notably benefited Jupiter, the decentralized trade aggregator on Solana, with its native token JUP gaining 24.9% prior to now week.

Whereas the meme coin is driving a shopping for frenzy on the Solana community, the SOL token itself, which was launched in April, has misplaced 4% in worth prior to now 24 hours and is at the moment priced at just below $189.

Regardless of this slight downturn, Solana's market capitalization hit an all-time excessive of over $90 billion in March, reflecting the enlargement and engagement of the decentralized finance sector and the colourful meme coin market.

The publish Put up-Solana DEX Buying and selling Quantity Reaches $60 Billion in Month-to-month ATH appeared first on nft-cryptocurrency.

(Tag Translation) Solana