Solana SOL: $60B DEX Monthly Trading Volume Sets New ATH

Joshua Ramos

The continued surge in activity on the Solana network has continued as the blockchain recently reached $60 billion in DEX monthly trading volume, setting a new all-time high (ATH). The figure was recorded from DeFi Llama and shows the continued interest that the network has amassed amid the March meme coin craze.

Moreover, the new landmark figure more than doubles the previous record. Specifically, Solana’s former DEX Monthly Volume mark was $28.14 billion from December of last year. Additionally, the mark is second only to Ethereum as the highest volume of all blockchains last month.

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Source: YouTube

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Solana Sets DEX Monthly Trading Volume ATH

Throughout March, all eyes were on the massive success that the Solana network enjoyed. Driven by the meme coin mania that swept the market, a host of tokens experienced meteoric rises that increased the overall prevalence of the network.

That has driven the blockchain to even surpass Ethereum in several key areas as it shows its worth in terms of high-end activity. Now, that has continued to set a new milestone for the blockchain. Specifically, Solana has seen its recent $60 billion DEX monthly trading volume set a new all-time high.

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The development was driven by several viral meem coins that caught the attention of investors early on. These included assets like Dogwifhat (WIF), Bonk (BONK), Book of Meme (BOME), and newcomers like Slerf (SLERF). Throughout March, these altcoins entered the meme coin market and became some of the most fearsome competitors in the subsect.

The increase in meme coin prevalence has also impacted Solana’s SOL cryptocurrency. During the month, SOL has increased more than 36% according to CoinMarketCap. However, it is facing a price correction over the last week, decreasing by more than 8% in that time frame.