Solana Co-founder Compares Dex Volume to Ethereum as it Hits $50B

Solana DEX’s recent trading surge, surpassing $50b, prompted positive remarks from Solana co-founder about Ethereum’s transaction volumes.

Following the passing of the $50 billion trading record on Sol DEX, the co-founder adopted a positive stance toward the volume of Ethereum transactions.

The data released on Saturday indicates that a surge in trade has resulted in a rise in volume. We found that Sol DEX volumes were on par with Ethereum DEX volumes.

Solana DEX Hits Record Volume

Considering the recent trend of the cryptocurrency market seeing a significant increase, this results.Currently, the volume of transactions passing through the Solana (SOL) blockchain DEX is at an all-time high.

In line with the recent pattern of the cryptocurrency market experiencing significant growth in a relatively short time, this gain is consistent with the trend.

The increase was partly because the data from the previous week revealed that the weekly DEX volume of Solana exceeded $13.3 billion. The trade volume currently stands at $50B. This accomplishment demonstrates the increasing significance of blockchain technology in the decentralized finance (DeFi) business.

There has been a significant increase in the value of a handful of meme coins headquartered in Solana, which has occurred concurrently with this increase in DEX volume. Several currencies, including Bonk and Dogwifhat (WIF), have garnered much attention and acclaim over the previous week.

Furthermore, since its launch on the Binance cryptocurrency market, Book of Meme ($BOME) has experienced tremendous growth, with its value increasing by more than 250%.

These developments, therefore, point to a more in-depth grasp of meme currencies and an increased awareness of them among the community of cryptocurrency supporters.

Regarding cryptocurrency competitors, the argument between Solana and Ethereum has always been at the forefront. On the other hand, the recent support communities have shown for one another may provide hints that blockchain technology, instead of competing for market capital, may seek support for individual blockchain communities.

A tweet by Anatoly Yakovenko today is a fantastic illustration of this. According to Anatoly Yakovenko, who is an alco-founder of Solana, the market value of Ethereum has not decreased, but the value of Solana has increased.

This comes after he recently expressed severe worries about the rising attention that the Securities and Exchange Commission (SEC) is paying to Ethereum.

Recently, he spoke of these concerns. Reports suggest that the Securities and Exchange Commission (SEC) might consider classifying Ethereum (ETH) as a security, albeit without formal confirmation.

This move has raised a substantial amount of debate within the bitcoin sector.The meme currency fever that has taken over the Solana network is mainly responsible for the most recent successes encountered with blockchain technology.

Because of the massive trading volumes of these tokens, the overall activity and liquidity of Solana’s trading system have significantly increased.

Although these meme currencies continue to gain popularity, they also attract new clients to Solana’s services and products, leading to increased trading.

In March, Bitcoin reached all-time highs, and there was an unanticipated increase in interest in meme coins. The phenomenon of Bitcoin reaching all-time highs prompted the broader market upswing.