- The volume of the Solana weekly DEX surpassed $13.3 billion on Saturday.
- A major contributor to the blockchain’s recent successes is the meme coin frenzy.
The volume on the Solana (SOL) blockchain DEX has reached a new record high. The total transaction volume on the Solana DEX in a single day has surpassed $3.5 billion. This increase is in line with the general trend of rapid expansion in the crypto industry that has been going on as of late.
According to DeFi Llama, the volume of the Solana weekly DEX surpassed $13.3 billion on Saturday. Attaining this landmark demonstrates blockchain’s growing significance within the decentralized finance (DeFi) industry.
Meme Coin Frenzy
In tandem with this expansion of DEX volume, the value of a handful of meme currencies based on Solana has risen sharply. The last week has seen increased interest in and value for some tokens, such as Bonk and Dogwifhat (WIF).
The price of Book of Meme ($BOME) has also skyrocketed since it was listed on Binance’s cryptocurrency platform, increasing by almost 250%. Consequently, these developments indicate that the crypto community is becoming more aware of meme coins and that their concept is being considered more broadly.
A major contributor to the blockchain’s recent successes is the meme coin frenzy that has broken out on the Solana network. The high amount of these token trades has increased the overall activity and liquidity of the Solana ecosystem.
Not only do these meme currencies boost trade volume, but they also introduce Solana’s features and goods to the new public. This trajectory is consistent with the broader market upswing, which began in March with Bitcoin’s record breaking and the unexpected popularity of meme-coins.
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