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

Solana’s ecosystem set off an ICO-like craze after launching the phenomenal meme currency BOME (BOOK OF MEME), attracting many project parties to raise funds publicly. This move aroused fanaticism in the community and also led to a rapid increase in on-chain transaction volume.

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

According to DeFiLlama data, the DEX (decentralized exchange) transaction volume on the Solana chain has reached 3.478 billion in the past 24 hours The US dollar surpassed the US$2.327 billion and US$1.337 billion of Ethereum and BNB Smart Chain (BSC), accounting for 34.43% of the entire network’s transaction volume. This shows that Solana’s performance in the DeFi market is very eye-catching and attracts a lot of trading activity. As the Solana ecosystem continues to grow, investors and traders are gradually increasing their confidence and interest in it. Solana's high throughput and low transaction costs have attracted more users, making it one of the most watched projects in the current cryptocurrency market

The transaction volume in the past week has also reached as high as 19.48 billion US dollars, slightly higher than Ethereum of US$19.31 billion, 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, Jupiter and Raydium perform very well in the Solana ecosystem, with their total trading volume accounting for 50% of the DEX trading share. In the latest data, Jupiter and Raydium’s transaction volumes reached approximately $2.477 billion and $2.473 billion respectively in the past 24 hours, which is almost double the $1.416 billion Uniswap V3 transaction volume on Ethereum. This highlights the strong performance of the Solana ecosystem in DEX trading and the important role Jupiter and Raydium play in it.

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.

The transaction volume of Jupiter and Raydium on the Solana chain has increased significantly, especially the meme currency SLERF, which has become a popular transaction. This highlights the increase in transaction activity on the Solana chain, in which the meme coin SLERF plays a significant role.

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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