CryptoMediaClub
Saturday, July 19, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Solana-Based DEX Market Share Up to 24% from Zero in Few Years

21.06.2024
A A
0
125
VIEWS
ShareShare

By the end of May, decentralized crypto exchanges (DEX) operating on the Solana blockchain generated 24% of the total trading volume in this segment, although three years ago, the absolute leadership in it belonged to projects on Ethereum.

Solana DEX Market Share Rises to 24%

Pantera Capital analysts noted the recent rapid growth of Solana-based DEXs. Trading volume on decentralized exchanges in the Solana ecosystem increased by 60% in May 2024.

There are a few numbers regarding the growth of Solana fundamentals:

  • the number of daily active users (DAU) on the network grew from 14,000 in October 2020 to nearly 1.3 million in May 2024;
  • high-priority transaction processing fees grew from less than $100,000 per month in mid-2023 to a record high of over $60 million in March 2024;
  • Solana accounted for 50% of all new tokens appearing on DEXs in May 2023, rising to 85% in May 2024.

The trends described above resulted in the trading volume of DEXs operating on the Solana blockchain exceeding 24% of the total trading volume of decentralized exchanges in May 2024. However, Solana-based DEXs were completely absent as recently as three years ago.

As one of the key reasons for such active growth, Pantera Capital analysts call the approach of Solana Labs and Solana Foundation to the development of the network, which, in their opinion, is similar to Apple’s approach to the development of macOS. In particular, they note the monolithic architecture of the Solana blockchain network, careful optimization of all its components, and the vertical integration of hardware and software, which allowed them to ensure a high level of performance.

Thanks to its architecture, Solana has gained great popularity among developers who are actively launching meme coins and decentralized infrastructure projects based on it. This, in turn, contributes to the growth of user on-chain activity and has a positive impact on SOL token quotes, which have grown by more than 670% over the past year, according to CoinGecko.

One of Solana’s key weaknesses is its lack of resilience, which has led to repeated blockchain network outages in the past. Algorand Foundation marketers even used this as a negative stereotype in their product’s advertising campaign. However, a full version of the Firedancer update is scheduled for release in 2025. It will include an advanced client validator developed by Jump Trading Group’s cryptocurrency division and designed to improve the performance, reliability, and security of the Solana blockchain network.

Сообщение Solana-Based DEX Market Share Up to 24% from Zero in Few Years появились сначала на CoinsPaid Media.

Share10Tweet6ShareSharePin2

Related Posts

Crypto Price Prediction Today 18 July – XRP, Ethereum, Solana
All news

Crypto Price Prediction Today 18 July – XRP, Ethereum, Solana

19.07.2025
0

Bitcoin ($BTC), the unrivalled frontrunner in the crypto sector, is now trading a mere 2.8% below its record price peak...

Read moreDetails
Ex-Pump.fun Dev Behind $2M Theft Jailed in London for Bail Breach, Faces 7+ Years Prison

Ex-Pump.fun Dev Behind $2M Theft Jailed in London for Bail Breach, Faces 7+ Years Prison

18.07.2025
GENIUS Act Clears Congress as Meme Coins Hit $82B – Snorter Says It’s Sniping Season, ICO Passes $2M

GENIUS Act Clears Congress as Meme Coins Hit $82B – Snorter Says It’s Sniping Season, ICO Passes $2M

18.07.2025
The Nordics First Major Bitcoin Conference BTCHEL Slated for August 2025

The Nordics First Major Bitcoin Conference BTCHEL Slated for August 2025

18.07.2025
XRP, BTC Holders Turn to APT Miner for Stable Investing

XRP, BTC Holders Turn to APT Miner for Stable Investing

18.07.2025
Load More
Next Post
MicroStrategy Buys Nearly 12K Bitcoin (BTC) With About $800 Million

MicroStrategy Buys Nearly 12K Bitcoin (BTC) With About $800 Million

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

SEC Staking Shake-Up: Agency Says Proof-of-Stake Isn’t a Securities Deal – What It Means Now

SEC Staking Shake-Up: Agency Says Proof-of-Stake Isn’t a Securities Deal – What It Means Now

2 months ago
Terra Classic (LUNC) Makes a Comeback With Massive Surge

Terra Classic (LUNC) Makes a Comeback With Massive Surge

2 years ago
Colorado Resident Loses $6,000 in Bitcoin to Scam Involving Fake Law Enforcement

Colorado Resident Loses $6,000 in Bitcoin to Scam Involving Fake Law Enforcement

9 months ago
Tether CEO Warns Quantum Computing May Unlock Inactive Bitcoin Wallets

Tether CEO Warns Quantum Computing May Unlock Inactive Bitcoin Wallets

5 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

GENIUS Act Clears Congress as Meme Coins Hit $82B – Snorter Says It’s Sniping Season, ICO Passes $2M

The Nordics First Major Bitcoin Conference BTCHEL Slated for August 2025

XRP, BTC Holders Turn to APT Miner for Stable Investing

Thailand Launches National Crypto Sandbox for Tourists

Pepe Price Prediction: Is PEPE Going To Follow XRP And Hit a New ATH In July 2025?

More Than Third of Users Already Use Crypto for Everyday Payments

Trending

Ethereum attracts record ETF inflows and 39% fee drop in Q2, supporting stronger outlook for Q3
Analysis

Ethereum attracts record ETF inflows and 39% fee drop in Q2, supporting stronger outlook for Q3

19.07.2025
0

Ethereum (ETH) registered significant improvements in the second quarter, including increased inflows of exchange-traded funds (ETFs), layer-2...

Crypto Price Prediction Today 18 July – XRP, Ethereum, Solana

Crypto Price Prediction Today 18 July – XRP, Ethereum, Solana

19.07.2025
Ex-Pump.fun Dev Behind $2M Theft Jailed in London for Bail Breach, Faces 7+ Years Prison

Ex-Pump.fun Dev Behind $2M Theft Jailed in London for Bail Breach, Faces 7+ Years Prison

18.07.2025
GENIUS Act Clears Congress as Meme Coins Hit $82B – Snorter Says It’s Sniping Season, ICO Passes $2M

GENIUS Act Clears Congress as Meme Coins Hit $82B – Snorter Says It’s Sniping Season, ICO Passes $2M

18.07.2025
The Nordics First Major Bitcoin Conference BTCHEL Slated for August 2025

The Nordics First Major Bitcoin Conference BTCHEL Slated for August 2025

18.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz