Solana User Base Skyrockets To Over 123 Million, Riding The Memecoin Wave

Quick Summary:

Memecoins Drive Unprecedented Trading Volumes Key to the recent surge in trade on Solana is platforms including Pump.fun, a memecoin generator, and Raydium, a decentralized exchange (DEX).Pump.fun brought in $30.5 million in October; Raydium recorded around $30 billion in trading activity.

Solana’s DeFi industry, with a substantial $5.7 billion in total value locked (TVL), experienced a 26% growth in Q3, reflecting significant expansion propelled by platforms such as Kamino.

Solana DeFi Ecosystem Flourishes In addition to the memecoin excitement, Solana’s DeFi network has experienced significant growth.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: United KingdomCanadaSouth KoreaPhilippines

Topics: Sol Cryptocurrency Market News TVL Solana Crypto Altcoins

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 02:30:38 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 424 words

Reading Time: 3 minutes read

Sentences: 74 lines

Sentence Length: 6 words per sentence (average)

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

Copyright Owner: © NewsBTC

News ID: 23440588

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Main Topics: Crypto

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