Solana

Uniswap

Jupiter

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 <p>A large surge in memecoin activity has driven decentralized exchange (DEX) volume on Solana (SOL) to record highs, the latest on-chain data shows.</p>
 <p>According to blockchain analytics platform DefiLlama, Solana’s volume reached $3.802 billion on Saturday, a high that eclipses old records set earlier this year.</p>
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 <p>Solana’s total value locked (TVL) has also seen a parabolic uptrend, soaring to a high of $4.034 billion. TVL refers to the amount of capital deposited within a protocol’s smart contracts and is often used to gauge the health of a crypto ecosystem.</p>
 <figure id="attachment_2https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp586" aria-describedby="caption-attachment-2https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp586" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-2https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp586 size-full" src="https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp" alt="" width="1210" height="317" srcset="https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp 1210w, https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp?resize=300,https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp 300w, https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp?resize=768,https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp 768w, https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp?resize=1024,https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp 1024w, https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp?resize=750,https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp 750w, https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp?resize=1140,https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp 1140w" sizes="(max-width: 1210px) 100vw, 1210px">
  <figcaption id="caption-attachment-2https://cdn.thebittimes.com/images/2024/03/17/da636d19d0a5f21a7e587f116ebbebd9.webp586" class="wp-caption-text">
   Source: DeFiLlama
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 <p>The rise in activity is largely due to the success of several memecoins on Solana.</p>
 <p>According to the decentralized finance (DeFi) analytics platform Dexscreener, the newly launched memecoin Book of Meme (BOME), which was recently listed on Binance, has done over $907 million in volume over 24 hours.</p>
 <p>Dogwifhat (WIF), Solana’s biggest memecoin, has done $568 million in volume in 24 hours, while BONK, also a dog-themed coin, has recorded $359 million in the same time frame.</p>
 <p>There are also countless other coins at much lower market caps being launched on Solana contributing to the soaring DEX volume.</p>
 <p>According to data from CoinGecko, the Solana-based decentralized exchange aggregator Jupiter (JUP) has recorded more volume than Ethereum’s (ETH) Uniswap (UNI) V3 in the last 24 hours.</p>
 <p>JUP, the native token of Jupiter, is up 143% in the last month, while Solana itself is up 58% in the same timeframe.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/explosive-memecoin-surge-sends-solana-dex-volume-to-record-highs-on-chain-data-tbt82776.html">https://thebittimes.com/explosive-memecoin-surge-sends-solana-dex-volume-to-record-highs-on-chain-data-tbt82776.html</a></p>

Explosive Memecoin Surge Sends Solana DEX Volume to Record Highs: On-Chain Data

TheBitTimes

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