24-hour trading volume of virtual currency Solana DEX surpasses Ethereum for the first time

Ranked 1st in DEX trading volume for the first time

On the 16th, the trading volume of the virtual currency/blockchain Solana (SOL) DEX (decentralized exchange) exceeded the trading volume of Ethereum mainnet for the first time on a 24-hour basis and ranked first. This is a “flip” that follows last weekend’s No. 1 NFT transaction.

BREAKING: @solana FLIPS @ethereum IN 24H DEX VOLUME FOR THE FIRST TIME IN HISTORY pic.twitter.com/fmcYjnlyeq

— DEGEN NEWS (@DegenerateNews) December 16, 2023

Solana’s current 24-hour trading volume is $1.47 billion, exceeding Ethereum’s $1.16 billion. In terms of trading volume for individual DEXs, the Ethereum mainnet version Uniswap V3 is in first place, and Orca, a Solana DEX, is currently in second place.

Source: CoinGecko

There are several reasons behind the rapid increase in Solana DEX trading volume:

• Rising price of BONK token
• Point system/airdrop campaign for Jupiter, Kamino, and SolSniper
• NFT trading volume maintains top 1st and 2nd place, TensorNFT trading volume catches up with Blur
• SOL hits new year-to-date high, temporarily reaching $79.2

Slowly… then all at once https://t.co/RdeEnsXqul

— Richard | Tensor (@0xrwu) December 15, 2023

connection: Solana’s dog coin BONK increases by 1200% per month, Saga smartphones are sold out due to expectations for Air Dro

In response to the strong DEX trading volume, the Solana Foundation tweeted, “Solana DeFi 2.0 is just beginning.”

Solana DeFi 2.0 is just getting started

— Solana (@solana) December 16, 2023

connection: Solana’s breakthrough, market influence of blockchain technology driving 500% annual growth

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