Summary
TLDR: Solana-based decentralized exchanges saw record trading volume of over $11.19 billion in a week, with Orca and Raydium leading the way. SOL surged to a 22-month high, and meme coins like BONK and Dogwifhat saw success. Despite high trading volume, Solana’s total value locked is only $2.6 billion, far below previous highs.
Key Points
1. Solana-based decentralized exchanges (DEXs) experienced a significant surge in trading volume, surpassing an all-time record with over $11.19 billion worth of digital assets traded in one week.
2. The top contributors to this trading frenzy on Solana were Orca and Raydium, with Orca leading the way with $4.5 billion in trading volume in the last seven days.
3. Despite the impressive trading volume figures, the total value locked (TVL) across all of Solana currently stands at just over $2.6 billion, indicating that the value of the Solana ecosystem is not at its all-time high.