{"id":163934,"date":"2024-04-01T11:15:04","date_gmt":"2024-04-01T11:15:04","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=163934"},"modified":"2024-04-01T11:15:13","modified_gmt":"2024-04-01T11:15:13","slug":"solana-sol-continues-to-rise-surpasses-ethereum-in-stablecoin-trading-volume","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/solana-sol-continues-to-rise-surpasses-ethereum-in-stablecoin-trading-volume\/","title":{"rendered":"Solana (SOL) Continues to Rise: Surpasses Ethereum in Stablecoin Trading Volume"},"content":{"rendered":"
TL;DR<\/span><\/p>\n Due to current market trends, Solana<\/a> has recently been grappling with surpassing the $200 threshold.<\/strong> A significant downward pressure on these market fundamentals is the recent news of the insolvent cryptocurrency exchange FTX\u2019s estate offloading its Solana holdings worth $7.65 billion at a 68% markdown from the prevailing market price.<\/span><\/p>\n Nonetheless, on-chain metrics suggest that SOL maintains its robust performance, especially in the realm of stablecoins. The volume of stablecoin transactions on the Solana network indicates that it consistently processes more transactions daily than Ethereum<\/strong>, recording an additional $411.2 billion in trading volume over the previous week.<\/span><\/p>\n Artemis,<\/strong> a platform for crypto on-chain analytics, has underscored the escalating use of stablecoins on Solana.<\/strong> According to on-chain data<\/a>, the daily trading volume of stablecoins on this blockchain has consistently exceeded that of Ethereum throughout most of March, particularly from March 9 onwards. This disparity in trading volume was further amplified over the last week, as Artemis pointed out in a social media post.<\/span><\/p>\n\n
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