In November, the monthly trading volume on decentralized exchanges (DEX) in the Solana blockchain exceeded $100 billion for the first time.
According to DefiLlama, in November, the total trading volume of DEX in the network amounted to $109.8 billion (in October this figure was $52.5 billion). This is almost double the monthly trading volume of DEX based on Ethereum, which was $55 billion.
The Director of Research at The Block, Eden Au, explained this growth as a result of the ongoing excitement in the meme coin sector, supported by low transaction fees and the user-friendliness of the network. In November, the monthly fees generated by meme token launch platforms based on Solana, pump.fun and Raydium, reached record highs of $71.5 million and $182 million respectively (DefiLlama data).
According to the expert, it is highly likely that Solana will continue to attract retail users next year:
It is likely that in 2025 we will enter a bull market, and retail speculators seeking higher profits will flock to the meme coin space, where liquidity is seeping in from the main cryptocurrency market.
