Solana’s Milestone Achievement in DEX Volume
Solana, the blockchain platform launched in 2020, has made a significant achievement by trailing closely behind Ethereum in 24-hour decentralized exchange (DEX) volume. This accomplishment marks a notable shift in the dynamics of decentralized finance (DeFi), attracting attention from crypto leaders and enthusiasts.
Growing Popularity of Solana-Based Projects
In addition to the DEX volume triumph, Solana’s success is evident in other areas. The entire inventory of Saga Mobile has sold out, highlighting the growing popularity of Solana-based projects. Furthermore, the meme coin BONK associated with the ecosystem has broken multiple records, adding to the community’s excitement.
Solana Trails Closely Behind Ethereum
Data from DefiLlama shows that Solana is inching closer to dethroning Ethereum in total DEX volume over the last day. While Ethereum accumulated $945 million, Solana achieved an astounding surge of $940 million. This impressive growth reflects Solana’s momentum and its recent overtaking of Ethereum in NFT sales.
Positive Achievements
The sale of Saga Mobile is considered a huge day for Solana, according to Circle CEO Jeremy Allaire. Raj Gokal of Solana expressed enthusiasm for this milestone, stating that they are just getting started after six years. Additionally, BONK surpassed expectations with a 100% gain within 24 hours.
Solana’s Price and Sell-Off
Despite these achievements, Solana’s price has experienced a decrease of 5.65% and is currently trading at $74. This sell-off may be contributing to the price decline.
Hot Take: Solana’s Rise as a Strong Ethereum Competitor
Solana’s recent milestone achievement in DEX volume and its growing popularity through projects like Saga Mobile and BONK highlight its potential as a strong competitor to Ethereum. With its impressive growth rate and ability to attract attention from the crypto community, Solana is making waves in the world of decentralized finance.
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