Solana Outperforms Bitcoin and Ethereum in Weekend Trading Volume

<h3>Solana's Milestone Achievement</h3>
<ul><li>Unprecedented Trading Volumes: Solana's SOL recorded a higher trading volume than Bitcoin and Ethereum combined, marking a significant milestone in the cryptocurrency market.</li><li>Observations by Industry Experts: Conor Grogan from Coinbase and Riyad Carey from Kaiko noted this trend across major trading platforms, including Kraken and Gemini.</li></ul>
<h3>Key Platforms Witnessing SOL's Surge</h3>
<ul><li>Wide Reach Across Exchanges: The increased trading volume of SOL was evident on UPbit and MEXC, where it surpassed BTC and ETH over 2 and 3 days, respectively.</li><li>Data Insights: Carey's analysis showed SOL's trading activities nearing 40% on centralized crypto platforms, while BTC and ETH were experiencing a downturn.</li></ul>
<h3>Reasons Behind SOL's Rising Volume</h3>
<ul><li>Growth Despite Challenges: Despite previous associations with Sam Bankman-Fried, Solana has witnessed significant growth, attracting a broader user base.</li><li>Strategic Partnerships: Alignments with global financial giants like Visa and Shopify have showcased Solana's network capabilities in streamlining payment processes.</li><li>BONK Memecoin and DeFi Resurgence: The popularity of the Solana-based BONK memecoin and a revival in decentralized finance activities on Solana's blockchain have fueled its upward momentum.</li></ul>
<h3>SOL's Price Movement</h3>
<ul><li>Impressive Price Increase: Following these developments, SOL's price has soared, marking an over 800% increase year-to-date, reaching nearly $120 according to CryptoSlate.</li></ul>
<h3>Final Thoughts:</h3>
<p>Solana's surpassing Bitcoin and Ethereum in weekend trading volume is a testament to the sustained and growing interest in the SOL token. This trend underscores Solana's resilience and potential in the cryptocurrency market, backed by strategic partnerships, innovative offerings, and a strengthening DeFi sector.</p>
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<p>Disclaimer: The information provided is not trading advice. MaskEX.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.</p>

MaskEX Academy Team

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