Key Points:
- Solana DEX trading volume surpasses $5 billion daily for three days.
- Raydium drives 60% of Solana DEX trading volume, showing dominance.
Solana DEX trading volume reached historic highs, exceeding $5 billion daily for three days. Raydium led the volume with 60%, driving weekly totals to $15.9 billion.
Solana DEX Trading Volume Hits Record Levels
This marks a new record because its DEX ecosystem has recorded more than $5 billion in daily trading volume for three consecutive days. According to DeFiLlama, this record volume reflects Solana’s rising importance to the DeFi ecosystem. Last week, from November 10 to 16, the recorded trading volume for Solana DEX was $15.898 billion, signaling the growth of interest and activity in its ecosystem.
Raydium is the largest decentralized exchange for Solana and contributes nearly 60% of the trading volume in the network. As such, Raydium is the most dominant contributor within Solana DEX. Such a huge contribution by Raydium signals great demand from the consumer side, built on its liquidity and smoothness of trading. High trading volumes will thus signal growing confidence in Solana-based DeFi projects as the DEX ecosystem widens across the Solana blockchain.
Read more: Robinhood Crypto Now Supports Solana Trading Again
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/292072-solana-dex-trading-volume-hits-5b-daily-for-3d