Solana Flips Ethereum in DEX Volume
Solana has made history by surpassing Ethereum in 24-hour decentralized exchange (DEX) volume for the first time since its launch in 2020, as reported by DeFiLlama data on December 16. The Solana proof-of-stake (PoS) blockchain, founded by Solana Labs in 2018, achieved this milestone amid significant developments within its ecosystem.
Various factors contributed to this achievement, including the remarkable demand for Solana Mobile, substantial trading volumes associated with the Solana-based dog-themed meme coin Bonk, and an overall bullish sentiment surrounding the Solana ecosystem.
Circle CEO Jeremy Allaire acknowledged this feat as a “big day for Solana,” coinciding with the sellout of all Saga Mobile units. Solana Labs co-founder, Raj Gokal, expressed excitement, stating, “Incredible milestone. 6 years in, just getting started!” Anatoly Yakovenko, another co-founder, emphasized that developers have played a crucial role in Solana’s success and hinted at ongoing improvements with “Solana DeFi 2.0.”
Solana and BONK Price Action Amid Bullish News
The SOL price witnessed a 15% rally in a month, reaching a high of $79.15, and currently trading at $74. The 24-hour trading range is between $71.57 and $79.15, with a slightly decreased trading volume in the last 24 hours, totaling $1,840,546,027—an indicator of increased interest among traders.
Meanwhile, the price of BONK experienced a 22% decline in the last 24 hours following a remarkable 1000% rally in a month. The current BONK price stands at $0.0000231, with a trading range of $0.0000220 to $0.0000315 in the last 24 hours. The trading volume continues to rise, supported by recent listings on Coinbase, Binance, and other exchanges, leading experts to anticipate further upward movement in the BONK price.
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