🚨🚨‼️‼️ Solana on the roof of the world: 116 billion volumes on its DEXs, 2x more than Ethereum‼️‼️🚨🚨🚀🚀🚀
All the lights are green on Solana. Last week, the SOL token reached a new ATH at $263. At the same time, the blockchain is witnessing record activity, driven by the craze around memecoins. Now, it is the turn of Solana DEXs to reach a new record.
100 billion dollars: record volume on Solana
Solana’s decentralized exchanges have never been better. Indeed, this ecosystem led by platforms such as Raydium and Orca has experienced unprecedented growth in recent months.
So much so that over the last 30 days, Solana DEXs have recorded more than $116 billion in volume. Unsurprisingly, Raydium comes out on top, with $70 billion in volume. Followed by Orca and Lifinity with respectively 20 and 9 billion dollars in volume. Not surprisingly, this impressive increase can be attributed to the enthusiasm around memecoins on Solana.
For comparison, this is almost twice as much as the volume recorded on Ethereum over the same period. Indeed, Ethereum witnessed $61 billion in volume. Ethereum is followed by its layer-2 Base, which recorded $40 billion in volume.
The records pile up
Solana is definitely setting records week after week.
In October, the blockchain recorded a record number of users. Indeed, the network witnessed no less than 123 million active addresses. A record for Solana and probably for the entire crypto ecosystem
On the traditional markets side, attention around Solana also seems to be growing. Following the approval of Ethereum Spot ETFs in the USA, many fund managers have filed applications for the creation of SOL ETFs. Initially off to a bad start, it now appears that discussions with the SEC are moving forward in a positive direction.
