New information from decentralized finance (DeFi) tracker DeFi Llama reveals that surging altcoin Solana (SOL) is now the highest traded digital asset on decentralized exchanges (DEXs) behind Ethereum (ETH).
Solana’s buying and selling DEX quantity has soared by greater than 25% prior to now week for a complete of $5.6 billion, catapulting it into the second highest traded digital asset on DEXs, in line with DeFi Llama. On December thirteenth, Solana ranked simply fourth by DEX buying and selling quantity.
Ethereum is the highest traded DEX asset with $8.89 billion in buying and selling quantity prior to now week.
Prior to now 24 hours, Solana’s DEX buying and selling quantity totaled $895.9 million in comparison with ETH’s 1.07 billion.
Solana is buying and selling for $122.32 at time of writing, a 7.73% acquire over the past 24 hours and a large enhance of over 1,000% because the begin of the yr.
Because the ETH competitor’s worth surges, the community is gaining members. Final week, stablecoin issuer Paxos introduced its growth to the Solana community after completely working with the highest good contract platform.
The New York-based crypto agency will launch its dollar-pegged crypto asset, Pax Greenback (USDP), over the Solana blockchain beginning January seventeenth, 2024.
As acknowledged by Raj Gokal, co-founder of Solana, in a press launch,
“Paxos’s determination to carry stablecoin issuance to the Solana blockchain will showcase how Solana’s high-performance community and low transaction charges can help regulated monetary merchandise and supply leaders like Paxos new methods to scale and innovate”
Solana has additionally seen excessive curiosity in its Web3 smartphone, Saga, which not too long ago offered out after gross sales started in April. Shopping for Saga got here with a reward of free Bonk (BONK), a surging meme coin constructed over Solana.
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Featured Picture: Shutterstock/Rattanamanee Patpong/WhiteBarbie
