December was a terrific month for the crypto trade as a complete. As of December 30, cumulative on-chain spot buying and selling volumes reached a file $451.5B—a 19% bounce from November (which beforehand held the file at $379.5B).
Throughout the identical interval, on-chain derivatives buying and selling volumes reached a file $325.3B, a $81.3B enhance from final 12 months and a $10B enhance from March.
Solana Beats BSC and Ethereum
Solana led this development. For the third consecutive month, it held the place for the most-used blockchain for spot buying and selling, with a complete quantity of practically $112B. Binance Good Chain (BSC) got here second with a quantity of $96.2B, and Ethereum got here third with a month-to-month quantity of $86.6B.
It’s value noting that though Solana ecosystem outperformed BSC and Ethereum, $SOL’s buying and selling quantity fell by 15.7% month-to-date. Nevertheless, final month it hit $132.3B, an all-time excessive for on-spot buying and selling. Therefore, a dip was to be anticipated.
Alongside its distinctive efficiency in on-spot buying and selling, the Solana community added $1B value of stablecoins to its Whole Worth Locked (TVL) in December. This brings the TVL of stablecoins on its community to $5B. Out of this, $4B is in $USDC, and the remaining $1B is in $USDT.
The rising worth of stablecoins on Solana exhibits the belief buyers have on this community. However the true query is—can Solana deal with such speedy development?
Can Solana Deal with the Rising Demand?
Two years after its 2022 dip, Solana stands neck-and-neck with Bitcoin and Ethereum. But, it’s nonetheless a comparatively small community with simply 1/seventh of Ethereum’s TVL. Naturally, considerations come up about its functionality to deal with the demand.
It’s early to guage for positive. Nonetheless, listed below are some the explanation why we expect Solana will proceed to thrive:
- Solana is not any stranger to setbacks. 2022 was one of many darkest years in its journey, given the FTX collapse and $SOL’s worth plummeting to only $8. Now, nevertheless, it’s priced at over $200. That is all of the proof we want of its resilience.
- Solana had no main outages in 2024. In 2022, main outages had been occurring each month.
- It has a various ecosystem which attracts various kinds of buyers. The extra the variability, the extra the demand. Solana has, in truth, already outperformed each Bitcoin and Ethereum in lots of areas of development.
On high of that, Layer-2 answer Solaxy goals to assist Solana deal with the rising site visitors with out hampering transaction pace. It’s truthful to say that Solana may be very a lot forward of the curve and is provided to deal with no matter comes its method.
Solaxy Raises $7.8M, Guarantees to Remedy Solana’s Limitations
Presale of $SOLX, Solaxy’s native forex, kicked off in December and already surpassed $7.8M. The token is presently priced at $0.001588, however the worth will enhance as soon as the presale hits the subsequent milestone (which gained’t take lengthy given the present tempo).
Some specialists even predict $SOLX to be the next 100x coin, however we all the time advocate to do your due diligence.
Whereas we don’t give monetary recommendation, for those who are fascinated about investing in $SOLX, there can hardly be a greater time. Presale is a major alternative to seize the best meme coins for the bottom attainable worth.