CandleFocus Solana Misses Out on $200, Dominates DEX Trading Volume for 3rd Time
2024-12-26
Author: Content Editor
The Solana blockchain has experienced a surge in decentralized exchange (DEX) trading volume, surpassing Ethereum over the past three months. However, the native token of the Solana ecosystem, SOL, has struggled to maintain its price level, falling 5% in the last 24 hours. Solana's DEX trading volume in October, November, and December outpaced that of Ethereum. Ethereum, which was first in DEX trading volume in September, now ranks third, with Binance's BSC chain in second place. Solana is currently the second-largest blockchain in terms of total value locked. The growth of Pump.fun, a meme coin generator, and the adoption of Jupiter, a decentralized exchange aggregator, have contributed to Solana's dominance. However, SOL's price has fallen from its all-time high and there are indications of a further decline. This summary is for informational purposes only and does not constitute financial advice.
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