The transaction volume on the Solana chain is significantly higher than that of Ethereum! Jupiter and Raydium far surpass Uniswap V3

Solana ecology has recently ushered in the launch of the phenomenal meme currency BOME (BOOK OF MEME), followed by a wave of ICO-like currency issuances, and many projects have begun The public fundraising aroused enthusiastic support from the community, which in turn led to a surge in on-chain transaction volume.

The transaction volume on the Solana chain is $1 billion higher than that of Ethereum

According to data from DeFiLlama, the transactions of the DEX (decentralized exchange) on the Solana blockchain in the past 24 hours The volume reached US$3.478 billion, surpassing the US$2.327 billion and US$1.337 billion of Ethereum and BNB Smart Chain (BSC), accounting for 34.43% of the global transaction volume. This demonstrates Solana’s strong presence in the DeFi ecosystem and demonstrates investor preference for its fast, low-cost trading services. Solana’s high transaction volume also reflects users’ recognition of its high scalability and high throughput advantages. With the continuous development of the cryptocurrency market and the continued prosperity of DeFi, Solana's transaction volume in the past week has also reached US$19.48 billion, slightly higher than Ethereum's US$19.31 billion, and significantly ahead of BSC's US$12.919 billion.

Jupiter ranks first in trading volume, surpassing Uniswap

Further analysis shows that transactions on the Solana chain are mostly concentrated in DeFi aggregator Jupiter and decentralized exchange Raydium and Orca.

According to CoinGecko data, these three trading platforms account for 50% of the total DEX trading volume in the Solana ecosystem. According to the latest data, in the past 24 hours, the transaction volume of Jupiter and Raydium reached approximately $2.477 billion and $2.473 billion respectively. This figure is almost double the $1.416 billion of Uniswap V3 on Ethereum during the same period.

Orca, the exchange with the third largest trading volume on the Solana chain, also has a trading volume of US$1.241 billion, which is close to Uniswap V3 on Ethereum.

It is worth mentioning that the most traded currency in Jupiter and Raydium is the meme coin SLERF, which highlights the substantial increase in transaction volume on the Solana chain, with meme coins making the largest contribution.

Solana hit a new high since 2021/11 and then fell back

At the same time, Solana exceeded US$200 yesterday (18th), reaching a maximum of US$210.18 , hitting a new high since November 2021. The market value once exceeded US$92.5 billion, surpassing Mercedes-Benz's US$85.36 billion and SoftBank's US$85.78 billion.

However, there was a correction of more than 10% before the deadline, and it was temporarily reported at $187.83, but the overall ecological popularity has not diminished.

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