As the holiday season approaches and many crypto projects slow down, Solana is standing out with a notable uptick in development activity.
Over the past month, the network has experienced an 11.2% increase in overall ecosystem development and a 4.2% rise in the number of contributors.
This surge is fueled by the launch of numerous new projects, reinforcing Solana’s position as a dynamic and growing ecosystem in the crypto space.
Ethereum’s trading volume just exploded—up 85% in November, going from $3.84B to $7.13B mid-month.
Looks like $ETH ETFs and some post-Trump optimism are lighting things up.
Big moves ahead? 👀🔥 pic.twitter.com/fAcbWvKe4g
— Kyledoops (@kyledoops) November 23, 2024
One of the key driver’s growth is Solana’s thriving decentralized exchange (DEX) market. The total DEX volume on Solana recently surpassed a staggering $800 billion, bolstered by the increasing popularity of Solana-based meme coins.
This surge has led to a substantial increase in total swaps, now reaching 4 billion, and a growing number of traders, with 311 million trades recorded.
🚨BREAKING: SOLANA HITS $800,000,000,000 TOTAL DEX VOLUME!!!🚨
– 4BIL TOTAL SWAPS
– 311MIL TOTAL TRADERS pic.twitter.com/BOiC3YDUMg— SolanaNews.sol (@solananew) November 22, 2024
Solana Memecoins Surge
Solana’s meme coin market is experiencing rapid expansion, with several coins seeing impressive trading volumes. Notable coins like $MooDeng ($390M), $SLERF ($170M), and $MUMU ($130M) are gaining traction, alongside others such as $LUCE ($130M), $WEN ($120M), and $BERT ($75M). These meme coins are quickly carving out a significant portion of the Solana ecosystem, driving attention and new investments to the platform.
https://twitter.com/rainascrd/status/1860405147077103816?t=GiLcc1rDK4bPOBfXv9I6iw&s=19
With strong development activity, an expanding DEX market, and the growth of meme coins, Solana is proving to be a resilient and increasingly popular blockchain. Its ongoing innovation and ecosystem expansion position it well for continued success into 2024.
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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