Solana (SOL) Exceeds Ethereum L2s by Trading Volume

This Is A Strong Sign Of Bullish🐂

Solana (SOL), high-performance blockchain network, finally surpassed Polygon and Optimism by transactional volume.

Solana (SOL) exceeds Polygon (MATIC), Optimism (OP) by transactional volume In early December 2023, the aggregated on-chain trading volume on the Solana (SOL) blockchain surged above $240 million per day in equivalent. As such, the blockchain managed to surpass both Polygon (MATIC) and Optimism (OP), two mainstream Ethereum-based L2s by this indicator.

In the first days of December, Polygon (MATIC) and Optimism (OP) demonstrate trading volumes of $137 million and $40 million per day, respectively

Also, in the last 24 hours, Solana (SOL) exceeded its another rival Avalanche (AVAX) by net value locked in dApps. Solana's dApp ecosystem is responsible for $688 million in TVL, Avalanche (AVAX) dApps logged $660 million. At that pace, Solana (SOL) might surpass the TVLs of Polygon (MATIC) and Optimism (OP) in the coming days.

In the last month, Solana's (SOL) TVL added over 60%, while the SOL price soared by 45%. However, it is still lagging behind Arbitrum (ARB), a dominant Ethereum (ETH) L2. Arbitrum (ARB) amassed almost $2.2 billion in TVL, while its daily trading volume exceeds $363 million in equivalent.
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🔥Solana at 64USDT : What is Happening in the Solana Ecosystem? December Update

👍As a seasoned observer and analyst in the cryptocurrency space, I’ve watched the Solana ecosystem evolve through both prosperous times and challenging market conditions.

🎯Today, I’m here to provide a comprehensive update on the recent developments within the Solana ecosystem that are pivotal for investors and enthusiasts alike.

The aftermath of the 2022 market downturn was a tough phase for many cryptocurrencies, including Solana. However, the resilience Solana has shown is noteworthy. The platform has seen a revival in its token value and a surge in on-chain activities and DeFi growth. This recovery is a strong signal to investors about the robustness and potential of Solana,

At the time of updating this article, SOL is trading at 63USDT, up 153.17% in the last 30 days. With the help of this article, you will also get to know if SOL can be sustainable.

🛑Solana stands out for its exceptional performance and extremely low-cost transactions, making it an attractive choice for industries such as payments, gaming, and social media. This high-performance blockchain is particularly appealing to Web2 startups transitioning to Web3.

💎Solana’s revenue streams include earnings from transaction fees and a share of revenues from integrating Solana Pay with other platforms. A significant development for Solana is VISA’s recent decision to use its network for settling USDC transactions, which is expected to considerably increase network revenue through transaction fees. Presently, over 73% of Solana’s total supply of 553 million is in circulation. The supply locked by Almaeda/FTX, totaling 45 million, is anticipated to be released in mid-2025. The current inflation rate of the SOL supply is at 6%, with a plan to reduce it by 15% each year until it reaches the target inflation rate of 1.5%.

Disclaimer:This article just for education not financial advise
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