Although the cryptocurrency market is struggling with declines, the Solana blockchain is experiencing significant success. Solana has reached 2 million daily active users, attracting significant attention from the three major crypto startups in the ecosystem.
Recent data shows that the Solana blockchain provides more transaction throughput than Ethereum. Solana, which has become the center of Memecoins, reached 2 million daily users.
Prominent crypto startups in the Solana ecosystem include memecoin launchpad pump.fun, decentralized exchange Raydium and staking platform Jito.
Featured Crypto Startups on Solana Blockchain
Raydium has become one of the prominent platforms on the Solana blockchain, which has achieved a transaction volume of more than 50 billion dollars in the last month. Raydium, Solana's largest decentralized exchange, recorded $30 billion in transaction volume in July and generated $65 million in transaction fee revenue. With this performance, Raydium became the decentralized exchange with the highest transaction volume after Uniswap.
pump.fun, a successful initiative in the Memecoin field, has contributed to the creation of 1.5 million memecoins since March 2024. It generated $28 million in transaction fee revenue last month.
Increased activity on the Solana blockchain has also had a positive impact on staking platform Jito. Jito recorded revenue of $1.4 million in July.
Solana had an impressive performance in July, coming to the fore in on-chain data at a time when its biggest rival, Ethereum, was losing value despite spot ETFs. During this period, the SOL price also showed a strong performance.
SOL has gained 15% in value in the last month.
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