{"id":596509,"date":"2024-03-06T11:41:06","date_gmt":"2024-03-06T11:41:06","guid":{"rendered":"https:\/\/ktsl888.com\/?p=596509"},"modified":"2024-03-06T11:42:07","modified_gmt":"2024-03-06T11:42:07","slug":"solana-defi-landscape-thrives-with-record-11-billion-trading-volume","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/solana-defi-landscape-thrives-with-record-11-billion-trading-volume\/","title":{"rendered":"Solana DeFi Landscape Thrives With Record $11 Billion Trading Volume"},"content":{"rendered":"<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-naylv-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-naylv-1n7m0yu\">\n<div class=\"flex flex-col text-sm pb-9\">\n<div class=\"w-full text-token-text-primary\" data-testid=\"conversation-turn-15\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"relative flex w-full flex-col agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"531488df-b35b-4f31-afc2-8c50ad8ddef2\">\n<div class=\"markdown prose w-full break-words dark:prose-invert dark\">\n<p data-sourcepos=\"3:1-3:358\">The Solana decentralized finance (DeFi) sector is experiencing a period of phenomenal growth, with decentralized exchanges (DEXes) witnessing record-breaking trading volumes and the native token, SOL, reaching a new 20-month high. However, amidst the euphoria, experts advise caution due to potential market risks.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/can-doge-avoid-a-dive-sell-pressure-puts-memecoin-to-the-test\/\" target=\"_blank\" rel=\"noopener \">Can DOGE Avoid A Dive? Sell Pressure Puts Memecoin To The Test<\/a><\/div>\n<h2 data-sourcepos=\"5:1-5:21\"><strong>Solana: &#8216;Greed&#8217; Index<\/strong><\/h2>\n<p data-sourcepos=\"7:1-7:392\">While Solana&#8217;s DeFi landscape flourishes, it&#8217;s crucial to acknowledge the potential risks associated with the current market sentiment.<\/p>\n<p data-sourcepos=\"7:1-7:392\">Market data from CFGI indicates that the current sentiment is characterized by<a href=\"https:\/\/cfgi.io\/solana-fear-greed-index\/\" rel=\"nofollow\"> &#8220;Greed,&#8221;<\/a> implying a scenario where the market might be overbought. This raises concerns about the possibility of sharper price corrections in the near future.<\/p>\n<pre style=\"text-align: center\" data-sourcepos=\"7:1-7:392\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-596535\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_fe7e26.png?resize=460%2C442\" alt=\"\" width=\"460\" height=\"442\">Source: <a href=\"https:\/\/cfgi.io\/solana-fear-greed-index\/\" rel=\"nofollow\">CFGI<\/a><\/pre>\n<h2 data-sourcepos=\"11:1-11:25\"><strong>DEXes Drive The Surge<\/strong><\/h2>\n<p data-sourcepos=\"13:1-13:462\">Data from DeFiLlama reveals that between February 25th and March 2nd, Solana-based DEXes processed a staggering $11.24 billion in cumulative trading volume, marking a significant milestone in weekly activity.<\/p>\n<p data-sourcepos=\"13:1-13:462\">This surge surpasses previous benchmarks and outpaces major blockchains, including Ethereum. NewsBTC analysis shows a remarkable 177% increase in Solana&#8217;s DEX activity over a single week, solidifying its position as a major player in the DeFi arena.<\/p>\n<div class=\"related-reading-shortcode\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/qr31bDEG\/\" width=\"2475\" height=\"1163\"><\/div>\n<div>\n<pre style=\"text-align: center\">SOL market cap currently at $57 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<\/div>\n<p data-sourcepos=\"15:1-15:249\">This growth is a stark contrast to the subdued performance during the recent bear market. However, the fourth quarter of 2023 witnessed a reversal of fortunes, culminating in December with the highest-ever monthly DEX volumes, exceeding $28 billion.<\/p>\n<p data-sourcepos=\"17:1-17:362\">Jupiter, the largest DEX on Solana, has been instrumental in this surge. CoinGecko reports that Jupiter executed $1.5 billion in trading volumes within the last day, temporarily surpassing the established leader, Uniswap V3.<\/p>\n<p data-sourcepos=\"17:1-17:362\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin-on-the-brink-price-soars-above-68000-will-btc-break-its-2021-record\/\" target=\"_blank\" rel=\"noopener \">Bitcoin On The Brink, Price Soars Above $68,000 \u2013 Will BTC Break Its 2021 Record?<\/a><\/p>\n<h3 data-sourcepos=\"19:1-19:43\"><strong>Beyond Trading: TVL And SOL Price Rally<\/strong><\/h3>\n<p data-sourcepos=\"21:1-21:346\">The growth extends beyond trading volumes. Solana&#8217;s Total Value Locked (TVL), which represents the combined value of all cryptocurrencies deposited in its DeFi protocols, has surged by an impressive 52% in the last month, reaching $5.13 billion. This growth can be partly attributed to the remarkable gains observed in SOL, Solana&#8217;s native token.<\/p>\n<p data-sourcepos=\"21:1-21:346\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-596530\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_aa81ae.png?resize=588%2C317\" alt=\"\" width=\"588\" height=\"317\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_aa81ae.png?w=588 588w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_aa81ae.png?w=460 460w\" sizes=\"(max-width: 588px) 100vw, 588px\"><\/p>\n<pre style=\"text-align: center\" data-sourcepos=\"21:1-21:346\">Source: DeFiLlama<\/pre>\n<p data-sourcepos=\"23:1-23:394\">SOL&#8217;s price performance has been exceptional, currently trading at $132, marking a 4% increase from the previous day. This upward trend includes a 30% surge in the past week and a stellar 37% increase in the last 30 days.<\/p>\n<p data-sourcepos=\"23:1-23:394\">This price appreciation signifies a significant breakthrough, reaching a new peak not seen since November 2021, placing it 20 months removed from its all-time high of $260.<\/p>\n<p data-sourcepos=\"27:1-27:515\"><em>Featured image from Freepik, chart from TradingView<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Solana decentralized finance (DeFi) sector is experiencing a period of phenomenal growth, with decentralized exchanges (DEXes) witnessing record-breaking trading volumes and the native token, SOL, reaching a new 20-month high. However, amidst the euphoria, experts advise caution due to potential market risks. Related Reading: Can DOGE Avoid A Dive? Sell Pressure Puts Memecoin To The Test Solana: &#8216;Greed&#8217; Index While Solana&#8217;s DeFi landscape flourishes, it&#8217;s crucial to acknowledge the potential risks associated with the current market sentiment. Market data from CFGI indicates that the current sentiment is characterized by &#8220;Greed,&#8221; implying a scenario where the market might be overbought. This raises concerns about the possibility of sharper price corrections in the near future. Source: CFGI DEXes Drive The Surge Data from DeFiLlama reveals that between February 25th and March 2nd, Solana-based DEXes processed a staggering $11.24 billion in cumulative trading volume, marking a significant milestone in weekly activity. This surge surpasses previous benchmarks and outpaces major blockchains, including Ethereum. NewsBTC analysis shows a remarkable 177% increase in Solana&#8217;s DEX activity over a single week, solidifying its position as a major player in the DeFi arena. SOL market cap currently at $57 billion. Chart: TradingView.com This growth is a stark contrast to the subdued performance during the recent bear market. However, the fourth quarter of 2023 witnessed a reversal of fortunes, culminating in December with the highest-ever monthly DEX volumes, exceeding $28 billion. Jupiter, the largest DEX on Solana, has been instrumental in this surge. CoinGecko reports that Jupiter executed $1.5 billion in trading volumes within the last day, temporarily surpassing the established leader, Uniswap V3. Related Reading: Bitcoin On The Brink, Price Soars Above $68,000 \u2013 Will BTC Break Its 2021 Record? Beyond Trading: TVL And SOL Price Rally The growth extends beyond trading volumes. Solana&#8217;s Total Value Locked (TVL), which represents the combined value of all cryptocurrencies deposited in its DeFi protocols, has surged by an impressive 52% in the last month, reaching $5.13 billion. This growth can be partly attributed to the remarkable gains observed in SOL, Solana&#8217;s native token. Source: DeFiLlama SOL&#8217;s price performance has been exceptional, currently trading at $132, marking a 4% increase from the previous day. This upward trend includes a 30% surge in the past week and a stellar 37% increase in the last 30 days. This price appreciation signifies a significant breakthrough, reaching a new peak not seen since November 2021, placing it 20 months removed from its all-time high of $260. Featured image from Freepik, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":596526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,54512,88164,12837,83626],"class_list":["post-596509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-defi","tag-memecoins","tag-sol","tag-solana"],"acf":[],"yoast_head":"\n<title>Solana&#039;s DeFi Thrives With Record $11 Billion Trading Volume<\/title>\n<meta name=\"description\" content=\"The Solana decentralized finance (DeFi) sector is experiencing a period of phenomenal growth, with decentralized exchanges (DEXes) witnessing\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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