<\/p>\n
Traders bought and sold more than $261 billion of tokens on decentralized exchanges in March, outperforming 2021\u2019s best month by nearly $25 billion.<\/p>\n
Memecoin traders catapulted decentralized exchange activity to all-time highs last month, according to DefiLlama<\/a>.<\/p>\n March registered an all-time high transaction volume of $261 billion, outscoring the last peak in Nov. 2021, when $237 billion was transacted across DEXs. Last month also witnessed a more than twofold increase from February, when traders bought and sold $121 billion of crypto assets.<\/p>\n The top platforms during March were Ethereum<\/a>, with $75 billion, followed by the ecosystem most favored by memecoins, Solana<\/a>, which saw $58 billion. Binance Smart Chain (BSC<\/a>) closes out the top three with $46 billion.<\/p>\n <\/p>\n Notably, Coinbase\u2019s Layer 2 network, Base, broke onto<\/a> the scene in March. After five months without appearing on DefiLlama\u2019s dashboard, it notched up $7.75 billion last month, likely due<\/a> to rising interest in memecoins like DEGEN.<\/p>\n The L2 is enjoying its own memecoin season<\/a>, with the sector\u2019s market cap surging 60% from $1.02 billion on March 25 to $1.63 billion today \u2013 with an additional 7% spike today.<\/p>\n While spot Bitcoin ETFs<\/a> enjoy most of the mainstream media\u2019s attention, memecoins have been pushing to all-time highs in recent months. The sector, renowned for its irreverence and sometimes vulgar or outright racist<\/a> tickers, has been in a bull run of its own, with six memecoins making it into the top 100 on Coingecko.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Traders bought and sold more than $261 billion of tokens on decentralized exchanges in March, outperforming 2021\u2019s best month by nearly $25 billion. Memecoin traders catapulted decentralized exchange activity to all-time highs last month, according to DefiLlama. March registered an all-time high transaction volume of $261 billion, outscoring the last peak in Nov. 2021, when […]<\/p>\n","protected":false},"author":2,"featured_media":275550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-275549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=275549"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275549\/revisions"}],"predecessor-version":[{"id":275554,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275549\/revisions\/275554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/275550"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=275549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=275549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=275549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}