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Solana Rockets Past BNB To Claim Coveted 4th Spot In Crypto Ranks

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Solana Rockets Past BNB To Claim Coveted 4th Spot In Crypto Ranks - NewsBTC

Quick Summary:

Memecoins Add To The Frenzy The memecoin mania has taken off within its network, thereby amplifying trading volume and attracting more users, which has contributed to Solana’s rally.Pump.fun, a memecoin generator, and Raydium, a decentralized exchange, have received substantial attention.Pump.fun generated $30 million in revenue in October.

According to a research by Messari, the Solana decentralized finance ecosystem is experiencing growth in terms of value locked (TVL), reaching $5.8 billion in Q3 2024.

Analyst Predicts 10-Fold Surge To Yearly Peak DeFi Expansion Boosts Solana’s Ecosystem The price and volume of token transactions are not the only factors that contribute to Solana’s growth.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 22:00:10 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 431 words

Reading Time: 3 minutes read

Sentences: 69 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23453302

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 10 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 11 hours ago

Coverage Areas: United Kingdom

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Publisher ID: #102

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