Solana 24-hour DEX volume beats Ethereum, Base combined
Solana (SOL) network's 24-hour decentralized exchange (DEX) trading volume reached nearly $3.8 billion, surpassing Ethereum's $1.7 billion and Base's $1.2 billion. Solana has outperformed Ether (ETH) by approximately eight times in price since 2023. The total value locked (TVL) in Solana rose from around $1.4 billion to over $9.5 billion in 2024. Raydium, Solana's leading DEX, saw its trading volume increase from $180 million in January to over $3 billion by December 31. In November, Raydium outperformed Uniswap in monthly trading volumes but reversed in December, with Uniswap at $92 billion and Raydium at $61 billion. Memecoins significantly contributed to Raydium's volume, accounting for 65% of its monthly volume in November. Memecoins now have a market capitalization of approximately $130 billion. Pump.fun, Solana's top memecoin platform, generated nearly $250 million in trading volume over the past 30 days.
