PancakeSwap

Mother Iggy

<p>While the entire market seemed to be sinking into a slowdown phase in recent weeks, decentralized exchange (DEX) volumes on the Solana, Base, and Sui networks have surged significantly. This unexpected resurgence is partly fueled by the performance of memecoins and the general optimism surrounding global economic decisions. In a context where every decision by major financial players can cause waves, this increase is attracting the attention of savvy observers.</p>
<h2 id="h-solana-base-and-sui-the-unexpected-leaders-of-the-dex-volume-increase">Solana, Base, and Sui : the unexpected leaders of the DEX volume increase</h2>
<p>According to some data, decentralized platforms on <a href="https://www.cointribune.com/quest-ce-que-solana-sol/" target="_blank" rel="noopener noreferrer nofollow">Solana</a>, Base, and Sui have seen a respective increase of 40 %, 20 %, and 30 % in their trading volumes over the past seven days. Indeed, Solana alone handled $7.13 billion, followed by Base with $3.92 billion and Sui with $597 million. These figures are all the more significant as they come in a context where overall DEX volumes were down in September, with their lowest level since February at only $114 billion, compared to $172 billion the previous month. Ethereum, Solana, and BNB Smart Chain share the majority of transactions on DEX, confirming their status as essential platforms for decentralized exchanges.</p>
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<p>This sudden increase in volumes is closely linked to the general recovery of crypto markets, supported by external economic factors. Bitcoin rebounded to reach $66,000 on Friday, September 27, 2024, while Ethereum crossed the $2,700 threshold on the same day. This resurgence of activity coincides with <a href="https://x.com/RealFlokiInu/status/1839913826512224767?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1839913826512224767%7Ctwgr%5Ebf9db150fc609f421a095d084393be1ed3e0dde4%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcrypto.news%2Fsolana-base-sui-dex-volume-lead-as-meme-coins-rebound%2F" target="_blank" rel="noopener noreferrer nofollow">major macroeconomic events</a>, including the decision by the U.S. Federal Reserve to reduce interest rates, as well as the launch of support measures by the Chinese government. Thus, this combination has given new impetus to the market, with increased investor appetite for digital assets and decentralized trading platforms.</p>
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<h2 id="the-role-of-memecoins-in-the-resurgence-of-volumes">The role of memecoins in the resurgence of volumes</h2>
<p>One of the underlying reasons for this surge in volumes on DEX, particularly on Solana, is the rise of memecoins. Among the notable examples, Moo Deng (MOODENG) saw its price soar by 700 % in a week, with a market capitalization of over $300 million. At the same time, Mother Iggy (MOTHER), a token associated with rapper Iggy Azalia, rose by 96 %, bringing its valuation to $112 million. This comeback of meme tokens on Solana has led to a significant increase in the Pump.fun token ecosystem, with a total capitalization exceeding $1 billion and fees collected amounting to $148 million.</p>
<p>However, it’s not just Solana that has benefited from this resurgence. On Base, the Aerodrome platform has solidified its position as the most active DEX, with over $2.66 billion in volume. Other platforms, such as PancakeSwap and Clober, have also recorded solid performances. On Sui, the DEXs Cetus, DeepBook, Turbos, and Kriya have dominated the market, thereby consolidating their position on this emerging blockchain. Although memecoins are often seen as speculative assets, they play a significant role in the current dynamics of crypto trading.</p>
<p>The rebound in volumes on <a href="https://www.cointribune.com/quest-ce-quun-dex/" target="_blank" rel="noopener noreferrer nofollow">DEX</a> of Solana, Base, and Sui, partly fueled by memecoins and a favorable economic context, demonstrates the ability of these platforms to attract investors even in uncertain times. However, this recovery remains fragile. The inherent volatility of the crypto market, combined with global economic uncertainties, could once again reshape the crypto ecosystem.</p>

DEX Volume Boom: Why Are Solana, Base, and Sui Suddenly Attracting Crypto Traders?

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