Solana gets to be major account for DEX listings amidst surge in meme coin level of popularity

Remarkable information in the entire world of meme cash! Decentralized exchanges (DEXs) on the Solana community have been booming with action more than the earlier 24 several hours.

Studies from CoinGecko expose that Solana-primarily based DEXs have dominated the investing scene lately. Primary the pack are Raydium, Jupiter, and Orca. Raydium, in individual, observed an amazing $2.2 billion in buying and selling volume within just the past working day, virtually doubling Uniswap V3’s figures on Ethereum.

Not only that, but Solana’s DEX quantity has been steadily climbing as opposed to Ethereum for the past couple months. The ratio of weekly DEX quantity on Solana to Ethereum has skyrocketed to 29.4%, an remarkable soar from just 10.7% again in December 2023.

Moreover, the selection of new tokens popping up on Base and Solana networks has viewed a important surge in the latest months. In accordance to The Block, Base has claimed more than 50 % of the complete stated tokens on DEXs in early April, even though Solana boasted a whopping 16,000 new tokens. On April 8 on your own, Foundation introduced around 1,010 new DEX tokens out of a overall of 1,650, marking a significant portion of the industry.

Source: The Block

Interest in Base and Solana has been on the increase considering that December 2023, fueled by the excitement encompassing the surge of meme coins. Solana sees a everyday inflow of thousands of new tokens, with some dealing with exponential price tag hikes thanks to keen speculators.

Solana’s eye-catching reduced service fees have positioned it as the go-to blockchain for launching meme coins. Buyers only require a Solana-enabled wallet and SOL token for transactions. With meme coin fever in entire swing, SOL’s price just about doubled at the commence of the yr, breaking the $200 barrier for the first time due to the fact late 2021.

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