Solana Flips Ethereum DEX Volume Amid Saga Mobile Sold Out & BONK Rally

Solana News: Solana makes history by surpassing Ethereum in 24-hour decentralized exchange (DEX) volume for the first time since its launch in 2020, grabbing the attention of crypto leaders and enthusiasts. The Solana community celebrates this milestone as all Saga Mobile are sold out and meme coin Bonk breaks multiple records.

Solana Flips Ethereum in DEX Volume

Solana chain has surpassed Ethereum chain in DEX volume for the first time in history, according to DeFiLlama data as of December 16. The Solana proof-of-stake (PoS) blockchain was founded by Solana Labs, which was co-founded by Anatoly Yakovenko and Raj Gokal in 2018.

Numerous factors contributed to the achievement of the milestone. It includes massive buying of Solana Mobile, huge trading volumes on Solana-based dog-themed meme coin Bonk, and bullish sentiment on the Solana ecosystem.

Circle CEO Jeremy Allaire calls it a “big day for Solana” as it flips Ethereum and Saga Mobile gets sold out. Solana’s Raj Gokal also reacted to these milestones, saying “Incredible milestone. 6 years in, just getting started!”

Anatoly Yakovenko said he agrees that Solana is better than Ethereum and developers have contributed immensely to the success of Solana. The ecosystem is underway for further improvements with “Solana DeFi 2.0.”

Also Read: US SEC To Inspect Binance.US Technical Infrastructure, Systems And Software

Solana And BONK Price Action Amid Bullish News

SOL price rallied 15% in a month and hit a high of $79.15. Solana currently trades at $74. The 24-hour low and high are $71.57 and $79.15, respectively. Furthermore, the trading volume has slightly decreased in the last 24 hours. to $1,840,546,027, indicating a rise in interest among traders.

Meanwhile, BONK price fell 22% in the last 24 hours after a 1000% rally in a month, with the price currently trading at $0.0000231. The 24-hour low and high are $0.0000220 and $0.0000315, respectively. The trading volume is still increasing in the last 24 hours.

Coinbase, Binance, and other exchanges listed BONK this week, with experts suggesting a further rally in BONK price.

Also Read: Tether Collaborates With US Regulators For Robust Crypto Security

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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