Transaction volume across the Solana technique enhanced by 54%, reaching a new ATH

In just one week, the trading volume of Solana DEX exchanges reached more than $two billion, and taking into consideration just three weeks of November 2023, it developed a new record with complete volume exceeding $four.seven billion.

Trading volume across the whole SOL technique enhanced by 54%, reaching a new all-time substantial

Information from Wu Blockchain stated trading volume on the Solana system’s centralized DEX floors has hit a new record, growing 54% in the previous week to attain $three billion.

Trading volume of the ecosystem’s main DEXes like Orca and Raydium also noticed an maximize of much more than 70%, assisting Solana come to be the leading three chains with “huge” volume ($two.96 billion) this week. , right away behind Ethereum (9.87 billion). USD) and Arbitrum (USD four.33 billion).

Trading volume statistics of DEX exchanges on Solana. Source: @ilemi on Dune Analytics

Data from DeFiLlama exhibits that Solana DEX’s complete trading volume in the most current week reached more than $two.9 billion, surpassing BSC Chain in terms of trading volume in the previous 24 hrs.

The Solana technique has a complete transaction volume reaching the leading three, surpassing BSC Chain. Photo taken at ten:00 am on November twenty, 2023

Token costs of main DEXs in the Solana (SOL) ecosystem this kind of as Raydium and Orca more than the final seven days have also enhanced by virtually twenty%.

The price tag of the ORCA token has enhanced by virtually twenty% in the final seven days. Photo taken at ten:09 am on November twenty, 2023

In a context wherever the network is turning into lively, Solana’s Bonk (BONK) memecoin task also enhanced strongly by virtually one hundred% in seven days with transaction volume reaching more than $103 million in just 24 hrs. In unique, this task enhanced by 2477%, or 24 instances in the final month alone.

The price tag of the BONK token in the final month has enhanced by much more than 2400%, equivalent to x24 instances. Photo taken at ten:14 am on November twenty, 2023

Speaking of price tag, Solana it performs much better than other main coins, specifically in current instances. The maximize in SOL more than the month and yr was 197% and 350%, respectively. At the time of creating, SOL is trading about the $60 mark, thanks to sizeable momentum from the new Solana Breakpoint 2023 updates and “kudos” from “stock tycoon” Cathie Wood. VanEck when predicted that SOL would attain $three,211 by 2030.

1D chart of the SOL/USDT pair on Binance as of ten:twenty am on November twenty, 2023

Coinlive compiled

Join the discussion on the hottest difficulties in the DeFi industry in the chat group Coinlive Chats Let’s join the administrators of Coinlive!!!