Solana’s decentralized exchanges (DEX) have ignited the crypto sphere with a remarkable 54% spike in trading volume, smashing through the $3 billion mark within a mere week, establishing an unprecedented all-time high (ATH).
Solana’s Strong Dominance in Trading Volume
According to recent data from DeFiLlama, Solana’s decentralized exchange (DEX) trading volume has seen a 54% surge in just a week, reaching new heights.
Meanwhile, the data shows that the total trading volume of Solana’s DEX platforms has not only breached but exceeded the $3.01 billion mark, surpassing even BSC Chain in 24-hour trading volume.
Currently, Solana now stands as the third-largest blockchain in terms of weekly trading volume. Positioning itself just behind the behemoths Ethereum, commanding $9.87 billion, and Arbitrum, with a formidable $4.49 billion.
However, November has been a month of consistent growth for Solana, outperforming major cryptocurrencies in the market. SOL has surged by an impressive 197% in the past month, reaching 59.75, marking an extraordinary 350% increase over the past year.
Orca and Raydium Outshine
At the forefront of this explosive growth are flagship DEX platforms Orca and Raydium, both showing eye-watering gains of more than 70%. Notably, Orca’s token price has surged by an impressive nearly 20%, showcasing the dynamic growth within the Solana ecosystem.
Adding to the fervor, renowned investor Cathie Wood of VanEck has expressed optimism about Solana’s growth potential, catalyzing an immediate 20% surge in SOL. VanEck’s bold prediction places SOL on a trajectory to reach a milestone of $3,211 by 2030.
As Solana keeps changing the crypto game, these record-breaking achievements and dynamic growth show a blockchain reaching new heights.
Source: https://coinpedia.org/news/solanas-big-win-dex-trading-hits-3-billion-breaking-records/