Solana becomes the highest DEX trading volume blockchain for the third consecutive month.
In December, the blockchain network recorded a DEX trading volume of $105 billion.
SOL aims to reclaim the $200 price level but failed to do so after a 5% crash in 24 hours.
The Solana blockchain has dominated all the other blockchain networks, including Ethereum, in terms of decentralized exchange (DEX) trading volume for the last three months. However, SOL, the native token of the Solana ecosystem, struggled to reclaim the $200 price level, as it crashed by 5% over the last 24 hours.
According to DefiLiama data, Solana’s DEX trading volume reached a whopping $52.49 billion in October, $129.73 billion in November, and $105.05 billion in December while Ethereum stood at $41.4 billion in October, $70.3 billion in November, and $81 billion in December.
Notably, Ethereum was ranked first in terms of DEX trading volume in September, but it stands third in December. The second place was taken by Binance’s BSC chain, which recorded a volume of $99 billion. However, Solana is ranked as the second-largest blockchain in terms of total value locked (TVL), which stands at…
The post Solana Misses Out on $200, Dominates DEX Trading Volume for 3rd Time appeared first on Coin Edition.
