Solana

Raydium

Base

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
The decentralized exchange ecosystem of Solana (SOL), a high-performance L1 blockchain, scores new milestones. In 2024, the network registered amazing TVL growth as well as notable upsurge of the native SOL coin price.
<h2 id="solana-sol-dex-market-share-hits-new-all-time-high">Solana (SOL) DEX market share hits new all-time high</h2>
The new historic milestone was registered by decentralized exchanges (DEXes) on Solana (SOL) blockchain. As noticed by Solana Floor platform, Solana's (SOL) dominance in the DEX trading volume metric hit a new all-time high. As of July 21, 2024, 36% of aggregated DEX trading volume is processed by Solana (SOL).
<blockquote>
 🚨BREAKING: On July 21st, Solana's DEX volume dominance across all blockchains reached a new All-Time High, with 36% of the total market share. <a href="https://t.co/V4ib30uSC7">pic.twitter.com/V4ib30uSC7</a>— SolanaFloor (@SolanaFloor) <a href="https://twitter.com/SolanaFloor/status/1815380100449177658?ref_src=twsrc%5Etfw">July 22, 2024</a>
</blockquote> 
To provide context, Solana's (SOL) key rival, Ethereum (ETH), sees its dominance sitting at 23%, while Binance's BNB Smart Chain is responsible for 11.3%.
Three other mainstream blockchains, Arbitrum (ARB), Base (BASE) and Avalanche (AVAX) combined, are responsible for 20% of DEX trading volume.
Thorchain (THOR), Optimism (OP), Polygon (MATIC) and Blast (BLAST) are also ranked in the top league by this parameter.
Raydium (RAY) and Orca (ORCA) are the most popular DEXes on Solana (SOL) blockchain. Raydium (RAY) managed to increase its TVL by 20% in the last seven days, DefiLlama's data says.
Solana's (SOL) price is up by 600% in the past year: the token is trying to stay above the $180 level as of printing time.
<h2 id="solana-sol-tvl-is-up-300-ytd">Solana (SOL) TVL is up 300% YTD</h2>
As covered by U.Today previously, Solana (SOL) activated a number of critical tech upgrades in recent months. For instance, it implements ZK Compression to significantly advance the performance and speed of transactions.
As explained by Helius CEO Mert Mumtaz, the aggregated boost might bring a 10,000x increase of crucial blockchain metrics.
Besides that, Solana (SOL) is experiencing parabolic TVL growth. Since Jan. 1, 2024, the net TVL of Solana's dApps rocketed from $1.43 billion to $5.83 billion.

Solana's DEX Volume Share Hits New High

Table of Contents

U_Today

Muita 22. heinäk. 2024 julkaistuja artikkeleja

Bitcoin Poised for New All-Time High This Week

Ripple News: $1.4 Billion Stock Buyback Planned Before IPO – Garlinghouse Signals XRP Confidence

Trump’s Crypto Plans Post-Biden Exit: Is A Bull Run Next? Top Altcoins To Grab Now!

XRP Shows Signs of Strength Against Bitcoin

America Is Going Bankrupt, Elon Musk Says As Dogecoin Co-founder Slam US Govt

SoMon Becomes Fastest-Growing Web3 Social App with 300,000 Transactions in Two Weeks

Join our free newsletter for daily crypto updates!