In a remarkable milestone, Solana has achieved its highest-ever decentralized exchange (DEX) trading volume, surpassing an impressive $3.5 billion today. The DeFi data aggregator, DeFi Llama, has confirmed this surge, with Solana’s weekly DEX volume soaring past $13.3 billion last Saturday.
This surge in DEX activity coincides with the meteoric rise of various Solana-based meme coins. Notably, tokens like Bonk and Dogwifhat (WIF) have gained significant traction in the past week. Adding to the frenzy, Book of Meme ($BOME) witnessed a staggering 250% surge today following its listing on Binance.
Solana Hits Record DEX Volume Amid Crypto Market Rally
Fuelled by Bitcoin’s rally to an all-time high, the broader cryptocurrency market has experienced a notable surge in recent weeks. March, in particular, has seen a frenzy of activity around meme coins. Among the top beneficiaries of this rally is Solana, emerging as a formidable contender in the meme coin space.
Recording its highest daily DEX volume ever, Solana has crossed the $3.5 billion mark, propelled by the surge in meme coin trading. Consequently, Solana’s native token, SOL, is edging closer to the $200 mark for the first time since December 2021. With a 5% increase in the past 24 hours, SOL is currently trading at $189.38, showcasing resilience despite recent market pullbacks.
Furthermore, SOL’s market capitalization has surged by over 4%, surpassing $84.5 billion, a level not seen since November 2021. This bullish momentum indicates further potential for Solana’s growth trajectory, with no immediate signs of slowing down.
As Solana’s meme coin market continues to flourish, the listing of BOME presents fresh opportunities for sustaining its remarkable trading volumes. With tokens like BONK and WIF maintaining their rally, Solana appears poised to scale new heights in the days ahead.
