Solana has recorded the highest DEX volume in history today, surpassing $3.5 billion. DeFi data aggregator DeFi Llama has reported the 24-hour DEX volume for the blockchain, with the weekly volume officially crossing the $13.3 billion mark on Saturday.
The increase in DEX volume on the network aligns with the significant increase in value of a range of Solana meme coins. Specifically, meme coins like Bonk and Dogwiphat (WIF) have emerged in the past week. Additionally, Book of Meme ($BOME) has also surged over 250% today following its most recent listing on Binance.
Solana reaches highest daily DEX volume to date
Fueled by Bitcoin’s surge to an all-time high, the cryptocurrency market has seen significant gains in recent weeks. Furthermore, March witnessed a major rally in meme coin prices. Now, one of the biggest winners from that rally is a network that may be emerging as a major competitor to meme coins.
Solana has officially recorded its highest daily DEX volume to date, surpassing $3.5 billion. Indeed, the increase in the network’s meme coins has led to impressive transaction volume growth. Subsequently, the increase in volume seems to be benefiting the network’s native token as well.
Solana (SOL) is currently approaching the $200 mark for the first time since December 2021. According to CoinMarketCap, SOL has risen over 5% in the past 24 hours and is currently trading at $189.38, despite the recent pullback in the cryptocurrency market over the past few days.
Furthermore, the token’s market cap has also increased by over 4%, surpassing $84.5 billion. Moreover, this figure has reached levels not seen since November 2021 and is establishing new milestones. In contrast, the value of Solana is expected to continue rising with no signs of slowing down.
The meme coin market is also poised for further growth. Specifically, BOME presents new opportunities for Solana Volume to maintain its massive peak. If other previously mentioned tokens, such as BONK and WIF, can sustain their upward momentum in the coming week, Solana will be ready to enjoy entirely new heights.
