Solana Surges 30% While DEX Volume Reaches $130 Billion
Solana shows bullish trends despite a bearish broader crypto market.
- SOL increased by 30% against the US dollar in the past week.
- Solana reclaimed the top spot in seven-day DEX volume, surpassing Ethereum with nearly $130 billion.
- Network fees dropped 97% since January, and total DEX volume fell 93% from Q1 highs.
- Network revenue has stabilized under $50 million weekly after peaking at over $200 million earlier this year.
- Transaction activity remains strong with around 585 million weekly transactions.
- Circle minted $250 million USDC on Solana, pushing monthly stablecoin transfer volume above $12 billion, an all-time high.
- Canada launched multiple spot Solana ETFs approved by the OSC, providing yield exposure to institutions.
- Current SOL price is approximately $127.70, reflecting a 24% rise over the past week.