{"id":165901,"date":"2024-05-10T11:11:56","date_gmt":"2024-05-10T11:11:56","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=165901"},"modified":"2024-05-10T11:11:59","modified_gmt":"2024-05-10T11:11:59","slug":"solana-briefly-surpasses-ethereum-in-dex-volume-sol-skyrockets","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/solana-briefly-surpasses-ethereum-in-dex-volume-sol-skyrockets\/","title":{"rendered":"Solana Briefly Surpasses Ethereum in DEX Volume. SOL Skyrockets!"},"content":{"rendered":"<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">TL;DR<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><strong><span data-preserver-spaces=\"true\">Solana Surpasses Ethereum in DEX Volume:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0Solana has recorded the highest daily and weekly decentralized exchange (DEX) volumes, surpassing Ethereum. The latest data shows that Solana\u2019s volume reached $1.447 billion within 24 hours and an impressive $10.786 billion over the past week.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Drop in Solana\u2019s NFT Sales Volume:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0Despite an increase in NFT traders, Solana witnessed a 16% drop in NFT sales volume on May 8th. The USD value of all Solana-based NFTs sold was $3.01 million, down from over $3.5 million on May 7th.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">SOL Price Surge and Market Capitalization:<\/span><\/strong><span data-preserver-spaces=\"true\"><span data-preserver-spaces=\"true\">\u00a0Solana (SOL) recently experienced a price surge of over 9%, aiming to breach a crucial resistance zone. With a market capitalization surpassing $50 billion, Solana is solidifying its position as a significant player in the cryptocurrency market.<\/span><\/span><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/solana\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Solana\u00a0<\/span><\/a><span data-preserver-spaces=\"true\">has eclipsed Ethereum, recording the highest daily and weekly decentralized exchange (DEX) volumes.\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">The latest data indicates that Solana\u2019s volume has soared to $1.447 billion within 24 hours and an impressive $10.786 billion over the past week.<\/span><!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: <a href=\"https:\/\/twitter.com\/solana?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@solana<\/a> FLIPS <a href=\"https:\/\/twitter.com\/ethereum?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@ethereum<\/a> IN 24H DEX VOLUME <a href=\"https:\/\/t.co\/asBpJObjjn\" target=\"_blank\">pic.twitter.com\/asBpJObjjn<\/a><\/p>\n<p>&mdash; DEGEN NEWS \ud83d\uddde\ufe0f (@DegenerateNews) <a href=\"https:\/\/twitter.com\/DegenerateNews\/status\/1788746606197498093?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 10, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">This surge in DEX volume rankings underscores Solana\u2019s expanding influence and adoption.\u00a0<\/span><strong><span data-preserver-spaces=\"true\">The blockchain now takes the lead with a weekly DEX volume of $10.786 billion, outpacing Ethereum\u2019s $9.604 billion.<\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">These statistics signal a significant shift in the DEX market, highlighting Solana\u2019s robust performance and escalating prominence among traders and DeFi enthusiasts. Solana has not only outperformed Ethereum in DEX volumes but also surpassed it in several other key metrics.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Solana&#39;s total fees (or revenue) are now at 50% of Ethereum in the past few days. Obviously, this ratio is at an all-time high.<\/p>\n<p>For reference, in 2021\/22 during peak activity, the ratio was under 1% &amp; hovered ~10% at the start of this year.<\/p>\n<p>&mdash; mhonkasalo (@mhonkasalo) <a href=\"https:\/\/twitter.com\/mhonkasalo\/status\/1788739250940219677?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 10, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">Solana has surpassed\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/what-is-ethereum\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Ethereum\u00a0<\/span><\/a><span data-preserver-spaces=\"true\">in terms of the trading volume for perpetual futures,<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0a key indicator of market liquidity and investor enthusiasm. This measure reflects the market\u2019s confidence in Solana, given the crucial role of perpetual futures in determining prices and ensuring liquidity in the cryptocurrency markets.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Recent Drop in Solana\u2019s NFT Sales Volume<\/span><\/h2>\n<p style=\"text-align: justify\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-165903\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/05\/SolanaSales.jpg\" alt=\"Solana Briefly Surpasses Ethereum in DEX Volume. SOL Skyrockets!\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/05\/SolanaSales.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/05\/SolanaSales-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/05\/SolanaSales-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">However, despite the uptick in NFT traders count, Solana witnessed a 16% drop in NFT sales volume on May 8th.\u00a0<\/span><strong><span data-preserver-spaces=\"true\">The USD value of all Solana-based NFTs sold was $3.01 million, down from over $3.5 million on May 7th.<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0This dip in sales volume is attributed to the steady decline in SOL\u2019s value in recent days.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">In terms of price,\u00a0<\/span><strong><span data-preserver-spaces=\"true\">Solana (<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/coinmarketcap.com\/currencies\/solana\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">SOL<\/span><\/a><span data-preserver-spaces=\"true\">) recently experienced a surge of over 9%,<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0aiming to breach a crucial resistance zone\u00a0<\/span><strong><span data-preserver-spaces=\"true\">around $157 to $160.\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Indicators suggest bullish momentum, with SOL potentially targeting Fibonacci resistance near $175. If SOL fails to overcome resistance, it could revisit support levels around $125 to $133, with long-term support near $85.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">With a market capitalization surpassing $50 billion, Solana is solidifying its position as a significant player in the cryptocurrency arena.\u00a0<\/span><strong><span data-preserver-spaces=\"true\">The recent surge in Solana\u2019s market activity, which saw a 33.6% price increase over the past 24 hours<\/span><\/strong><span data-preserver-spaces=\"true\">, is linked to the growing total value locked and the meme coin frenzy.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">In conclusion, Solana\u2019s recent performance in the DEX market and its price surge indicate a bright future for this blockchain platform in the DeFi sector. However, the decline in NFT sales volume suggests that there are still hurdles to overcome.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Solana Surpasses Ethereum in DEX Volume:\u00a0Solana has recorded the highest daily and weekly decentralized exchange (DEX) volumes, surpassing Ethereum. The latest data shows that Solana\u2019s volume reached $1.447 billion within 24 hours and an impressive $10.786 billion over the past week. Drop in Solana\u2019s NFT Sales Volume:\u00a0Despite an increase in NFT traders, Solana witnessed &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Solana Briefly Surpasses Ethereum in DEX Volume. SOL Skyrockets!\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/solana-briefly-surpasses-ethereum-in-dex-volume-sol-skyrockets\/#more-165901\" aria-label=\"More on Solana Briefly Surpasses Ethereum in DEX Volume. SOL Skyrockets!\">Read more<\/a><\/p>\n","protected":false},"author":32,"featured_media":165902,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[114,70,73,74],"tags":[4620,5536,4679,5416,5348],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/165901"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=165901"}],"version-history":[{"count":2,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/165901\/revisions"}],"predecessor-version":[{"id":165909,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/165901\/revisions\/165909"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/165902"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=165901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=165901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=165901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}