Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»TRADING NEWS»How $40 Billion in Daily Trading Volume Impacts Solana (SOL)
TRADING NEWS

How $40 Billion in Daily Trading Volume Impacts Solana (SOL)

By Crypto FlexsJanuary 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
How  Billion in Daily Trading Volume Impacts Solana (SOL)
Share
Facebook Twitter LinkedIn Pinterest Email

Solana’s SOL price fell 10% during the first week of the new year, falling below $100. This decline is a significant reversal from the recent high of $115 on January 2nd.

Nonetheless, the ecosystem continues to thrive, with trading volumes surging and stablecoins growing in dominance.

The price of SOL is cooling down

Last year, Solana stood out as one of the best-performing cryptocurrencies, with a massive rise of nearly 1,000%. Most of this growth occurred towards the end of the year, but it coincided with the resurgence of Solana’s DeFi sector and increased activity on the network.

Some observers have suggested early indicators suggest this positive trend will continue into the new year. As of December 31, SOL was trading at $103 and quickly rose to $115 on January 2. However, altcoin prices corrected on January 3 following reports that the US SEC may reject all pending spot Bitcoin ETF applications.

The price decline has continued since then, with the value of SOL dropping to $92 this morning. Solana has since recovered to $95.35 as of press time.

Read more: Is Solana (SOL) ready for a 50x surge in 2024?

Solana prices. Source: BeInCrypto

It is worth noting that the decline coincides with a broader decline across a variety of top cryptocurrencies, including Ethereum, XRP, and Cardano. The prices of these digital assets fell by 3%, 9%, and 14%, respectively.

The Solana Network Prospers

Despite SOL’s unstable price performance, the Solana network is witnessing a flurry of activity. Solana’s daily trading volume has surged to over $40 billion, the network’s highest volume since October 2022.

“Solana’s daily trading volume has reached a new high of over $40 billion. This is the highest since October 2022! Economic activity in the SPL standard token is also at a peak not seen since late 2022,” IATH Studio noted.

Solana daily deals
Solana daily trading volume. Source: Hello Moon

Solana’s surge in trading volume primarily comes from meme coin trading. In particular, Solana-based meme coins such as BONK and WIF have captured the attention of the cryptocurrency community thanks to their impressive price-performance ratio.

Read more: WARNING: Deepfake Anatoly Yakovenko video is targeting Solana (SOL) holders.

According to data from Artemis, Solana is emerging as a dominant force in stablecoin trading due to its low fees. As of January 1, Solana-based USDC transfer volume exceeded USDT transfer volume on the TRON blockchain by more than 40 billion.

disclaimer

In compliance with Trust Project guidelines, BeInCrypto is committed to unbiased and transparent reporting. These news articles aim to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to check the facts and consult with experts. Our Terms of Use, Privacy Policy and Disclaimer have been updated.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ripple Stablecoin RLUSD gets a green line to use in Dubai Difc.

June 4, 2025

The world’s best cloud platform: BCC Mining can easily earn $ 77,000 a day.

June 3, 2025

OTC encryption transaction | Careful gateway to direct digital asset exchange

June 3, 2025
Add A Comment

Comments are closed.

Recent Posts

DOW JONES wins Streak with weak growth and cost increases.

June 4, 2025

NVIDIA Blackwell achieves an improvement of 2.6x performance in MLPERF training v5.0.

June 4, 2025

NVIDIA MLPERF V5.0: Reproduces the educational score for LLM benchmarks

June 4, 2025

Price prediction of BTC, ETH, XRP, BNB, SOL, DOGE, ADA, Sui, Hype, Link

June 4, 2025

Did the Altcoin season end in 2025? Experts think that it was delayed that it was not dead.

June 4, 2025

Checkpoint #3: June 2025 Stats Ether Leeum Foundation Blog

June 4, 2025

Floating Point 8: Low precision AI training innovation

June 4, 2025

Is Ether Lee leading capital rotation to Bitcoin Dominance Falls -Altcoin Rally?

June 4, 2025

Bitcoin (BTC) is faced with market volatility in economic changes.

June 4, 2025

Huma joins the Global Dollar Network and develops Stablecoin adoption in solana.

June 4, 2025

Vechain is a crawling for the Renaissance upgrade among the veterinarian price pressure.

June 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

DOW JONES wins Streak with weak growth and cost increases.

June 4, 2025

NVIDIA Blackwell achieves an improvement of 2.6x performance in MLPERF training v5.0.

June 4, 2025

NVIDIA MLPERF V5.0: Reproduces the educational score for LLM benchmarks

June 4, 2025
Most Popular

As Memeinator’s MMTR presale raised $2.57 million, Bitzlato froze Bitcoin withdrawals.

December 28, 2023

Astar Network falls behind ahead of 350 million token burn. What about ASTR?

July 4, 2024

Aptos implements passwordless passkey authentication for transactions.

February 13, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.