The recent rise in popularity of the Meme token has led to a surge in trading volume across the Solalan Dex environment by $2 billion.
Solalan (Sol) is a popular Proof of Stake (PoS) crypto network known for its highly scalable network speeds. Network fees and scalability are very high compared to the Ethereum blockchain network. However, although there are some challenges and issues associated with the Solana network, there are still several advantages to using Solana over Ethereum.
On March 4, 2024, we saw a sudden increase in Solana Dex trading volume to $2 billion on the Solala network. In short, the trading volume of Solana DEX exceeded that of Ethereum.
As of this writing, the Solana Defi ecosystem’s 24-hour trading volume is $3.15 billion and Ethereum Defi’s volume is $4.83 billion.
The significant increase in trading volume in the Solana Defi ecosystem was due to the popularity of the Meme token available on the Solala network.
Many meme tokens saw big rallies this week. In particular, meme tokens based on the Solana network have become very popular.
However, although there is a very large difference between Solana and Ethereum coin trading volumes, it is natural that Solana will surpass Ethereum in terms of DEX trading volume in the long run, as the Solana network provides efficient cryptocurrency trading services. This is because network fees and scalability are very high compared to the Ethereum network.
The current trading price of Ethereum (ETH) coin is $3,563 and it is up 12% in the last 7 days.
On the other hand, Solcoin’s trading price was $125, up 15.5% over the past 7 days. Over the past two months, the trading price growth of Sol coin has occurred faster than that of other cryptocurrency tokens in this innovative sector.
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