CandleFocus

Solana’s DEX Trading Volume Reaches Record High Surpasses $100 Billion

Author: Content Editor
In November, the decentralized exchange (DEX) ecosystem of Solana achieved record-high monthly trading volumes of over $109 billion, marking a 330% increase compared to September. This surge can be attributed to Solana's scalability, low transaction fees, and the growing popularity of meme tokens. Solana's monthly DEX volume was also $14 billion higher than Ethereum, reaching $55 billion. Raydium dominated the Solana DEX with a 63% weekly volume, while Orca ranked second. Solana's native token, SOL, experienced a 61% price increase during this period and reached an all-time high of $263. The blockchain's ability to process over 54 million daily transactions and the deployment of over 77,000 new token projects in November further contributed to its success. Analysts predict SOL's price to continue rising, with a likely target of $300.

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