Solana’s decentralized exchanges (DEX) are making headlines, experiencing an incredible 54% surge in trading volume in just one week. This impressive jump pushed Solana’s DEX platforms past the $3 billion mark, a historic all-time high (ATH).
Let’s dive into the details of this exciting development.
Recent data from DeFiLlama reveals that Solana’s DEX trading volume shot up by a whopping 54% in just seven days, setting new records. The total trading volume of Solana’s DEX platforms not only broke but surpassed the $3.01 billion mark, outpacing even the well-known BSC Chain in 24-hour trading volume.
In a surprising turn of events, Solana now proudly claims the title of the third-largest blockchain in terms of weekly trading volume. It stands tall behind industry giants Ethereum, with an impressive $9.87 billion, and Arbitrum, boasting a formidable $4.49 billion. Solana’s rapid ascent in the rankings highlights its growing influence.
November has proven to be a month of solid growth for Solana, outperforming major cryptocurrencies in the market. The SOL token has surged an impressive 197% in the past month, reaching 59.75 and marking an extraordinary 350% increase over the past year.
At the forefront of this exciting growth are Solana’s flagship DEX platforms—Orca and Raydium. Both have shown impressive gains of over 70%. Notably, Orca’s token price has surged by nearly 20%, highlighting the dynamic growth within the Solana ecosystem.
Adding to the excitement, renowned investor Cathie Wood has expressed optimism about Solana’s growth potential. This endorsement triggered an immediate 20% surge in SOL prices. VanEck’s bold prediction places SOL on a trajectory to reach a milestone of $3,211 by 2030, signaling a promising future for Solana enthusiasts.
All in all, with its DEX platforms leading the way, Solana proves it’s a significant player in the world of cryptocurrency. Are you going to keep an eye on Solana further on?
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