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Solana Breaks Transaction Records and Memecoins Soar

The volume of transactions explodes on Solana:

  • The daily volume of transactions on Solana has exceeded $40 billion, a record since October 2022.
  • The economic activity of tokens using the SPL standard has reached unprecedented levels since late 2022.
  • The current value of transactions on Solana has increased by 700% compared to volumes recorded in early December.

New annual records for Solana

Solana has recently experienced a significant increase in its volume of transactions, reaching a peak of over $40 billion. This growth marks the highest level since October 2022, highlighting a significant recovery in activity on the blockchain.

On the other hand, the value of transactions on Solana has seen a staggering 700% increase compared to volumes observed at the beginning of December 2022. This growth is a clear indicator of increasing interest and user confidence in Solana.

Recently, the decentralized exchange volume recorded on the Solana network even surpassed that of Ethereum, temporarily placing it at the top of the market for a few days.

The rise of memecoins on Solana

Parallel to the increase in transaction volume, the activity of memecoins based on Solana has also experienced a notable surge. Cryptocurrencies like BONK have, for example, recorded increases of over 7000%. Note that the excitement around BONK was mainly due to the announcement of an airdrop for buyers of the “SAGA” phone from Solana.

It is important to note that the memecoin market is extremely volatile. While some traders have made significant profits, as shown by data from the blockchain analysis platform Lookonchain, experts warn of the high risks associated with these types of investments. Past successes do not guarantee future gains, and investors must exercise caution when navigating this dynamic but uncertain field.

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