In this post. The Solana ecosystem shows no signs of token fatigue and is instead experiencing days of active trading.
Raydium is Solana's main source of growth, aside from liquid stablecoin.
#Solana still doesn't have much of its own stablecoin, and lags behind Ethereum-based DeFi in lending, liquid stablecoin, and income farming.
The Solana ecosystem shows that token fatigue is temporary: trading expanded in July to a level comparable to the #BTC blockchain.
In July, the Solana ecosystem saw a surge in decentralized transaction volume that equaled that of Ethereum. This is partly due to #Raydium DEX, which continues to attract new tokens.
In addition, DEX activity on ethereum has moved to other networks, particularly Base: Uniswap DEX remains the most important application on ethereum and is increasingly attracting traffic from Base and Optimism.
DEX still accounts for 15% to 20% of the total value of DeFi, lagging behind centralized exchanges. However, the growth of the sector is indicative of stronger demand; DEX activity has not yet peaked in 2021, but new tokens are being successfully introduced.
The main source of active users and Solana liquidity is Raydium DEX, which is one of the main sources of liquidity for new and existing tokens The daily trading volume of Raydium is about 800 million USD.
In addition, Raydium's weekly transaction fees of US$13.18 million are higher than Uniswap's US$10.4 million. On a longer time horizon, Raydium's trading volume is still lower than Uniswap's. However, in one week, DEX Raydium generated a high positive return of US$559 million.
For the first time ever, DEX's monthly trading volume surpassed Ethereum's trading volume, reaching $55.8 billion! MemoCoin is driving this rapid growth, but it's not all hype.
Raydium is fueling the growth of decentralized trading platform Solana, and the leading token startup is Pump. fun.
The Solana ecosystem issues about 1.
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