Solana Surpasses Ethereum ($1.7B) and Base ($1.2B) with $3.8 Billion in 24-Hour DEX Volume, Raydium Hits $2.25 Billion

Solana has emerged as a leading player in the cryptocurrency market, achieving a remarkable 24-hour decentralized exchange (DEX) trading volume of nearly $3.8 billion. This figure surpasses the combined DEX volumes of Ethereum, which recorded $1.7 billion, and Base, which reached $1.2 billion.

The surge in Solana's trading volume highlights its growing dominance in the decentralized finance (DeFi) sector, driven by factors such as faster transaction speeds, lower fees, and increased activity in memecoins.

Notably, Raydium, a key decentralized exchange on the Solana network, accounted for over 50% of this volume, with a reported $2.25 billion in trading.

Additionally, Solana's total value locked (TVL) in DeFi has reached a three-year high of over $9.52 billion, marking a significant milestone for the blockchain since 2021. The recent influx of $304 million in inflows from other blockchains in December further underscores Solana's robust growth and scalability efforts.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.