{"id":275614,"date":"2024-04-02T01:55:48","date_gmt":"2024-04-01T20:25:48","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=275614"},"modified":"2024-04-02T01:55:48","modified_gmt":"2024-04-01T20:25:48","slug":"solana-dex-trading-volume-hits-monthly-ath-of-60-billion-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/solana-dex-trading-volume-hits-monthly-ath-of-60-billion-crypto-news\/","title":{"rendered":"Solana DEX trading volume hits monthly ATH of $60 billion – Crypto News"},"content":{"rendered":"
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Decentralized exchanges on the Solana blockchain have set a new monthly record for trading volume, surpassing $60.34 billion in March, based on DeFiLlama data<\/a>.<\/p>\n

This achievement more than doubles the previous record of nearly $28.14 billion from December 2023 and is the second-highest volume of all blockchains \u2014 surpassed only by Ethereum\u2019s<\/a> $77.55 billion during the month.<\/p>\n

BSC<\/a> boasted the third-highest DEX trading volume at $47.81 billion, while the fourth spot went to Arbitrum\u2019s $27.74 billion. Notably, the trading volume on BASE<\/a> grew almost 7x during the month to $7.8 billion.<\/p>\n

Memecoin frenzy<\/h2>\n

The surge in trading volume aligns with a significant interest in memecoins<\/a> within the Solana ecosystem, highlighted by notable performers like Dogwifhat (WIF<\/a>) and Bonk (BONK<\/a>), alongside newer entrants such as Book of Meme (BOME<\/a>) and Slerf (SLERF<\/a>).<\/p>\n

Meme coins related to political figures like Donald Trump and Joe Biden also experienced gains in March.<\/p>\n

Other meme coins on Solana, such as Popcat (POPCAT), also saw significant increases, with a 45% rise to a price above $0.33.<\/p>\n

Despite the typical volatility of the meme coin market, Dogwifhat closed March up by 43.9%, and Bonk ended the month with a 1.3% increase.<\/p>\n

Leading DEXs<\/h2>\n

Orca<\/a> led the Solana DEX space, with a trading volume of $3.6 billion in the past week, followed by Raydium<\/a> and Phoenix with $1.73 billion and $1.6 billion, respectively.<\/p>\n

This period of heightened trading activity has notably benefited Jupiter<\/a>, a decentralized exchange aggregator on Solana, whose native token JUP rose by 24.9% over the past week.<\/p>\n

As meme coins drive buying frenzies on the Solana network, the SOL token itself started April with a 4% decrease in its value over the last 24 hours, currently priced just below $189.<\/p>\n

Even with this slight downturn, Solana\u2019s market capitalization hit an all-time high of over $90 billion in March, reflecting the expansive growth and engagement within the decentralized finance sector and the vibrant meme coin market.<\/p>\n

Mentioned in this article<\/h6>\n
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Latest Alpha<\/span> Market Report<\/h6>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Decentralized exchanges on the Solana blockchain have set a new monthly record for trading volume, surpassing $60.34 billion in March, based on DeFiLlama data. This achievement more than doubles the previous record of nearly $28.14 billion from December 2023 and is the second-highest volume of all blockchains \u2014 surpassed only by Ethereum\u2019s $77.55 billion during […]<\/p>\n","protected":false},"author":2,"featured_media":266957,"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-275614","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\/275614","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=275614"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275614\/revisions"}],"predecessor-version":[{"id":275615,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275614\/revisions\/275615"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/266957"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=275614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=275614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=275614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}