Solana Achieves Record DEX Trading Volume of $39.2B This Weekend
During the recent surge in memecoin activity linked to President-elect Donald Trump, Solana achieved significant milestones:
- On Saturday, DEX trading volume reached $28.2 billion.
- Volume increased to nearly $40 billion on Sunday.
- Notable transactions included $12 billion for Trump family tokens and $1.5 billion in stablecoin swaps.
Photo: Blockwork
The launch of the Official Trump and Official Melania Meme coins drove this activity, overwhelming some Solana-based applications, such as Phantom, which recorded over 8 million transactions per minute.
Key statements from industry leaders include:
- Mert Mumtaz (Helius Labs) acknowledged execution challenges but highlighted Solana's growing importance.
- Raj Gokal (Solana) compared the chain's trading volume to Nasdaq.
- Ben Zhou (Bybit) noted a record $158 billion monthly volume in January and indicated improvements to reduce transaction failures.
SOL reached a high of $295 during this period but has since moderated to around $260, with future targets set at $350 and key support levels identified at $200 and $185.
Photo: TradingView