Solana

Billion

Phoenix

Donald Trump

<p>Solana’s decentralized exchanges (DEX), the cryptocurrency exchange platforms that operate directly on this blockchain, are experiencing significant momentum. A trend marked by the historic rise in transactions they have facilitated in recent months.</p>
<h2 id="h-unprecedented-surge-in-solana-s-dex-crypto-transactions-in-march">Unprecedented Surge in Solana’s DEX Crypto Transactions in March</h2>
<p>By the end of March, decentralized exchanges (DEX) built on the Solana blockchain achieved notable performance in terms of transaction volume, reaching a historical record of $60.34 billion at the end of the period.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p><a href="https://defillama.com/dexs/chains/solana" target="_blank" rel="noopener noreferrer nofollow">According to the data</a> from the crypto platform DeFiLlama, this trend signifies a historic movement, particularly marking a significant increase compared to the previous record of $28.14 billion established in December 2023.</p>
<p>This result places Solana at the second rank among the most significant blockchains when considering DEX trading volume. The platform closely follows Ethereum, whose DEXs reached a trading volume of $77.55 billion during the same period.</p>
<p>Following Solana is Binance Smart Chain (BSC) with a transaction volume of $47.81 billion. Next comes Arbitrum with $27.74 billion. Base, which saw its trading volume multiply by 7, closes this top 5 with $7.8 billion for the month.</p>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">Solana DeFi Trading Hits All-Time High Amid Meme Coin Frenzy<a href="https://t.co/0x6pbNtfP8" rel="noopener noreferrer nofollow">https://t.co/0x6pbNtfP8</a></p>— John Morgan (@johnmorganFL) <a href="https://twitter.com/johnmorganFL/status/1774869214878134564?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 1, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
 <figcaption class="wp-element-caption"><em>The volume of transactions on Solana’s DEXs doubled in March, reaching $60 billion</em>
 </figcaption>
</figure>
<h2 id="h-memecoins-still-leading-the-charge">Memecoins Still Leading the Charge!</h2>
<p>According to crypto analysts, this increase in trading volume for Solana’s DEXs is the result of sustained interest in memecoins based on this blockchain. Notably, they consider coins like Dogwifhat (WIF), Bonk (BONK), Book of Meme (BOME), and Slerf (SLERF).</p>
<p>Each of these memecoins has piqued investor interest, thus driving significant market activity. Moreover, this dynamic has extended to political figure-themed memecoins such as those referencing Donald Trump and Joe Biden, which also recorded gains in March.</p>
<p>In addition, other lesser-known memecoins on Solana have also attracted investors. Notably, Popcat (POPCAT), which has seen a remarkable increase of 45%, reaching a price above $0.33 in the process.</p>
<p>It is worth mentioning that among the Solana DEXs, Orca has positioned itself as the leader, with a trading volume of $3.6 billion over the past week. Raydium and Phoenix closely follow with respective volumes of $1.73 billion and $1.6 billion. Meanwhile, <a href="https://www.cointribune.com/en/solana-shines-in-the-dark-light-in-the-crypto-downturn/" target="_blank" rel="noopener noreferrer nofollow">SOL, the Solana cryptocurrency,</a> has fallen by 9.30% over the past 24 hours, standing at $184.</p>

Solana’s DEXs Break Records: $60 Billion in Crypto Transactions in March

Indice dei contenuti

Cointribune EN

Altri articoli pubblicati su 2 apr 2024

Bitcoin Endures Pressure While Altcoins Face Intensified Sell-Off

Bitcoin's 6% Drop Prompts Peter Schiff Commentary: 'It's A Fake Asset'

Ethena Labs Rewards ENA Token Holders with AirDrop Initiative

Bitcoin Experiences Significant Price Retreat, Experts Weigh In

Stratos partners with Nimble Network

Snuggle Up with Profits: Koala Coin (KLC) ICO vs Solana (SOL) and Cardano (ADA)

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!