Solana’s momentum is stronger than ever, with its market cap surpassing $100 billion and key metrics setting new records.
Whales are accumulating $SOL and the market cap of #Solana surpasses $100B today!
Whale”AA21…VxH9″ accumulated 7,500 $SOL($1.57M) again today.
The whale has accumulated a total of 257,599 $SOL($54M) since Oct 22.https://t.co/1vpVWG5SSK pic.twitter.com/Lom4sRAnOT
— Lookonchain (@lookonchain) November 10, 2024
A notable whale, identified as “AA21…VxH9,” recently acquired another 7,500 $SOL (worth $1.57 million), bringing their total accumulation since October 22 to 257,599 $SOL, valued at a staggering $54 million. This accumulation trend highlights renewed interest in Solana among major investors.
🚨BREAKING: Solana DEX volume surpasses Ethereum for the 6th consecutive week, setting a new record and continues to lead in monthly DEX volume for the 2nd straight month. pic.twitter.com/epRtFQfGsq
— SolanaFloor (@SolanaFloor) November 11, 2024
Solana’s ecosystem is also booming. The market cap of Solana-based meme coins has exceeded $15 billion, a testament to growing demand in niche markets.
Additionally, for the sixth consecutive week, Solana’s decentralized exchange (DEX) volume has outpaced Ethereum, setting a record and establishing Solana as the monthly leader in DEX volume for the second month in a row.
🚨JUST IN: Total market cap of Solana meme coins surpasses $15B for the first time. pic.twitter.com/eLDhReypsq
— SolanaFloor (@SolanaFloor) November 11, 2024
On November 10, Solana perpetual contracts reached a new peak with $2.41 billion in daily trading volume, with @JupiterExchange commanding an impressive 80% market share.
🚨BREAKING: Solana perps hit an all-time high daily volume of $2.41B on Nov 10, with @JupiterExchange dominating 80% of the market. pic.twitter.com/XvAsrE8u5w
— SolanaFloor (@SolanaFloor) November 11, 2024
Solana Leads In NFTs Adoption
Solana continues to lead in NFT adoption as well, outperforming other blockchains, including Ethereum, in weekly NFT user growth. With a user base of 44,000, Solana now holds a 36% dominance in NFT user adoption.
🚨 REPORT: @Solana continues to dominate all other blockchains, including Ethereum, in weekly NFT user adoption.
– Users: 44K
– Dominance: 36% pic.twitter.com/ExhNSrTa35— SolanaFloor (@SolanaFloor) November 11, 2024
Moreover, cross-chain activity has been significant. In the past week, over $160 million has been bridged to Solana from other chains, with $130 million originating from Ethereum alone. This substantial inflow underscores the appeal of Solana’s fast and affordable transactions, drawing liquidity from across the blockchain space.
🚨REPORT: Over $160 million has been bridged to @Solana from other chains in the last 7 days.
(This includes over $130 million from Ethereum alone) pic.twitter.com/ujBlTYIR40
— SolanaFloor (@SolanaFloor) November 11, 2024
As Solana continues to gain traction across DeFi, NFTs, and meme coins, its strong user adoption and market share illustrate its potential to solidify its position as a major player in the blockchain landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/solana-breaks-new-records-as-whales-and-market-demand-surge/