Solana Surpasses Ethereum in DEX Volume Amid Saga Mobile Sellout & BONK Price Rally

SOLANA

Some big news for Solana! The Solana blockchain has done something historic—it has more activity in decentralized exchanges (DEX) than Ethereum, which is a first. This comes as Solana Mobile sells out, and there’s a rally in the price of Bonk, a cryptocurrency on the Solana network.

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Big news for Solana! The Solana blockchain has made history by having more activity on decentralized exchanges (DEX) than Ethereum in a single day. This is the first time it has happened since Solana started in 2020, and it’s getting a lot of attention from people who are into cryptocurrencies. The Solana community is excited about this achievement, especially as all Saga Mobile devices have been sold out, and the meme coin Bonk is setting new records.

Solana Surpasses Ethereum in DEX Volume: Historic Achievement

Solana, the proof-of-stake (PoS) blockchain founded by Solana Labs in 2018, has achieved a historic milestone by surpassing Ethereum in decentralized exchange (DEX) volume, as reported by DeFiLlama data on December 16.

Several factors contributed to this achievement. Massive purchases of Solana Mobile, significant trading activity in the Solana-based meme coin Bonk, and a generally positive sentiment toward the Solana ecosystem played key roles.

Circle CEO Jeremy Allaire acknowledged this achievement, calling it a “big day for Solana” as it overtakes Ethereum, coinciding with the sellout of Saga Mobile. Raj Gokal from Solana expressed excitement, stating, “Incredible milestone. 6 years in, just getting started!”

Anatoly Yakovenko, co-founder of Solana Labs, shared his perspective, affirming that Solana is superior to Ethereum. He credited developers for their substantial contributions to Solana’s success and hinted at upcoming improvements with the introduction of “Solana DeFi 2.0.”

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Source: DefiLlama

Solana and BONK: Price Movements and Exchange Listings

The price of SOL, the native cryptocurrency of the Solana blockchain, has experienced a 15% rally in the past month, reaching a high of $79.15. Currently trading at $74, SOL’s 24-hour low and high stand at $71.57 and $79.15, respectively. Although the trading volume has slightly decreased in the last 24 hours to $1,840,546,027, there is still evident interest among traders.

In contrast, BONK, a meme coin on the Solana network, has witnessed a 22% decline in the last 24 hours following a remarkable 1000% rally in the past month. The current price of BONK is $0.0000231, with a 24-hour low and high at $0.0000220 and $0.0000315, respectively. Despite the recent dip in price, the trading volume continues to increase over the last 24 hours.

Adding to the dynamics, major exchanges such as Coinbase and Binance have listed BONK this week. Experts anticipate this development to potentially trigger a further rally in the price of BONK, highlighting the ongoing interest and attention garnered by this meme coin in the crypto market.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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  • SHBAZ

    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

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