By the volume of the top of a decently priced bag (#DEX ) network #Solanaâ© second only to Ethereum. According to DefiLlama, of the total trading volume on DEX last month, equal to $179 billion, Solana owned 25%, while Ethereum controlled 31%. At the beginning of this year the share #SolanaInvesting It fell by 16%, and Ethereum was down by 31%. Bo is a global cryptocurrency hedge fund #PanteraCapital published a report stating that the increase in share $SOL happened due to retail traders speculating on meme coins, which are attracted by low commissions for transactions.
By combining a variety of assets, from dog-and-cat-themed coins to so-called Politifi tokens inspired by political figures, Solana attracted a wave of liquidity from traders seeking to make money on these viral cryptocurrencies. Solana accounts for 85% of all new tokens traded on DEX since the beginning of the year, which also indicates an increase in volumes due to meme coins. According to Pantera experts, this is why the Phantom wallet, used to work with DEX on the Solana network, has become the most dominant application in the iOS app store. The fact that the crypto wallet has become the most downloaded application in the App Store (#Apple ) in the United States is an outstanding achievement, indicating the mass adoption of Solana, - in the Pantera report. â This influx of retail trade is closely related to the boom of meme coins on decentralized Solana exchanges. Despite the fact that the growth of Solanaâs share in the DEX volume is significant, competing networks are also gaining momentum. The second-level blockchain Ethereum Base, launched by the crypto exchange Coinbase, is also gaining market share, largely thanks to low transaction fees. Last month, asset management company Franklin Templeton suggested that Base would control the majority of user activity among competing networks level $ETH $BNB