Solana, the blockchain that runs decentralized markets, has replaced Ethereum as the market leader.
DeFiLlama estimates that the trading volume of decentralized exchanges is (DEXIn just seven days, the value of ) increased to $21.3billion. The volume of Ethereum-based decentralized exchanges increased by 3% over the same period to reach $19.4billion.
Solana (SOLEthereum (ETHBitcoin () reached $4,000 in March, despite the rise of Bitcoin (BTC() rallies to new highs.
Dogwifhat, a meme coin based on Solana’s image (against the backdrop of Solana), has helped Solana to become the most popular.WIFBonkBONKBook of MemeBOMESlerfSLERF). According to Reflexivity ResearchThe growth of Solana began during the fourth quarter 2023, due to a proliferation of point and giveaway programs like Solana DEX Jupiter.
“Solana has recently begun to significantly outpace Ethereum, suggesting a higher level of operational efficiency within its ecosystem.”
Reflexivity research
However, it is important to note that the Solana Network faced The demand for meme coins surged dramatically, causing transaction problems. As the Solana Network struggled to cope with the increased activity, users often reported missing or failed transactions.
In response, the Solana Foundation a announced Developers are given several guidelines to help them cope with the current high demand on the network. The fund suggested a priority commission system and optimizations for avoiding transaction losses.
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Source: crypto.news
