Solana’s trading activity hits all time high

DefiLlama claims that Solana has been in charge of the Decentralized Finance (DeFi) ecosystem’s daily trading volumes for 13 days. $2.6 billion was traded on the network’s decentralized markets on October 24. Blockworks Research data highlighted transaction-related fees on Solana (SOL) hit a new all-time high of more than $11 million on October 24.

Consequently, a notable increase in tokens relating to AI overtook Solana. According to Hashed’s dashboard on Dune Analytics, the Memecoin-focused launchpad Pump. fun hit a record-breaking 36,339 deployed tokens on October 24.

A new record was made when the total amount was deployed on Pump. fun surpassed 84% of the 43,166 new tokens released on Solana at the end of the week. Data from Blockworks Research, Pump. fun-launched tokens moved about $8.7 billion last week, taking the lead in weekly trading volumes on Solana for the first time.

Pump. fun surpassed 1 million SOL in sales just nine months after its start, breaking another significant milestone on October 24.
The platform’s vibrant developer community continuously enhances the network, keeping it innovative and competitive.

Solana’s strategic partnerships—like those with major exchanges and DeFi projects encourage further adoption. The increasing number of projects built on Solana, from decentralized exchanges to lending platforms, demonstrates its growing significance in the crypto market

Solana’s demand will probably increase as more developers and users choose it because of its affordability and effectiveness, which could result in large price increases. SOL is a great option for any investor looking for significant gains because analysts are confident it will hit new highs before January 2025.