The Solana-based decentralized exchange is experiencing record-breaking trading volumes, cementing its position as a top beneficiary in the current crypto market bull run.
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Trading volume on the Solana-based decentralized exchange (DEX) surpassed its all-time record this week, cementing rival Ethereum's position among the main beneficiaries of the crypto market's current bull run.
During the period February 24 to March 2, more than $11.19 billion in digital assets were traded on decentralized exchange Solana, according to data compiled by Defi Llama. This figure is up more than 154% from the previous seven-day period.
The numbers far surpassed the previous record holder for Solana DEX's best week ever - $9.88 billion traded in a single week, a milestone achieved in mid-December.
By far, the DEX with the biggest contribution to the Solana DeFi frenzy last week was Orca, which has recorded $4.5 billion in trading volume in the past seven days. Not far behind was Raydium, which saw $3.52 billion in trades in the same period.
The past few days, which have seen crypto prices skyrocket across the board, have been particularly beneficial for Solana-based tokens. At the end of last week, SOL surged to a 22-month high after rising more than 30% in a week.
On Saturday, daily trading volume on Solana DEXs passed $2 billion for the second time, totaling $2.025 billion. Only on December 21, amidst the meme coin frenzy, Solana DEXs surpassed that figure, reaching $2.6 billion.
And on the meme coin side, some of the biggest winners in the market have come from Solana, including timeless classics BONK and Dogwifhat. While those numbers are certainly encouraging, they don't mean the value of the Solana ecosystem is at-or even close to an all-time high . Total value locked (TVL) across Solana currently stands at over $2.
Solana mencapai TVL tertinggi di seluruh jaringan pada November 2021, ketika aset di jaringan melampaui nilai $9,9 miliar.
