Solana-Based DEXs Lead in Trading Volume

Decentralized exchanges built on Solana have captured nearly half of the market in terms of daily trading volume, according to data from CoinGecko.

The leading platform in this segment is Jupiter, with a volume of $2.66 billion, followed by Raydium at $2.4 billion.

Uniswap, the largest DEX, holds the third position, with Solana-based Orca trailing at $1.4 billion.

The most popular trading pair for the two current leaders is SLERF/SOL.

Despite the meme token project facing issues such as the “accidental” burning of its liquidity pool and airdrop tokens, the community has shown support.

Over the past 24 hours, the asset’s price dropped by approximately 25% to around $0.9. The token’s market capitalization is nearing $0.5 billion.

Ki Young Ju, founder and CEO of CryptoQuant, expressed concern over the boom in Solana-based meme tokens, suggesting that such projects are detrimental to the industry.

Amidst this, SOL remains in fifth place in market capitalization rankings, with a weekly growth of 14.5% against the market. The total value of the coin’s supply exceeds $78.2 billion.

Experts at Franklin Templeton have concluded that meme tokens lack “intrinsic” value and are highly unstable.