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In December 2024, Solana’s decentralized exchanges (DEXs) achieved a significant milestone by surpassing $100 billion in trading volume for the second consecutive month. This performance underscores Solana’s growing prominence in the decentralized finance (DeFi) sector, even amid broader market downturns.
Key Highlights:
- Record-Breaking DEX Volume: Solana’s DEXs processed over $100 billion in December, with Radium leading the pack with $59.642 billion, followed by Orca at $23.252 billion. This achievement positions Solana ahead of competitors like Binance Smart Chain (BSC) and Ethereum (ETH) in terms of monthly DEX trading volume. citeturn0search1
- Market Resilience: Despite a bearish December, Solana’s DEXs demonstrated resilience, with Radium ranking third overall in DEX trading volume, ahead of other prominent platforms. citeturn0search1
- Increased On-Chain Activity: Solana’s on-chain activity also saw a surge, with daily transactions hitting an all-time high of 1.5 billion in December. The total value locked (TVL) in Solana’s DeFi ecosystem increased by 57% from $5.8 billion to $9.1 billion, indicating growing confidence.
