• Latest
  • Trending
  • All
  • BUSINESS
  • ENTERTAINMENT
  • POLITICAL
  • TECHNOLOGY

December 31, 2024
Indices: Already not extreme fear

Indices: Already not extreme fear

April 24, 2025
Eurozone: Tariff reversal is some relief, but no game changer – ABN AMRO

Eurozone: Tariff reversal is some relief, but no game changer – ABN AMRO

April 24, 2025
US: The US has already lost the trade war – ABN AMRO

US: The US has already lost the trade war – ABN AMRO

April 24, 2025
Predictive Analytics Promise the End of ‘Gut Feelings’ in Construction

Predictive Analytics Promise the End of ‘Gut Feelings’ in Construction

April 24, 2025
First Border Wall Contracts of Second Trump Term Awarded in Texas, San Diego

First Border Wall Contracts of Second Trump Term Awarded in Texas, San Diego

April 24, 2025
Construction Economics for April 28, 2025

Construction Economics for April 28, 2025

April 24, 2025
AI startups backed to boost construction productivity

AI startups backed to boost construction productivity

April 24, 2025
Why is building safety litigation on the rise?

Why is building safety litigation on the rise?

April 24, 2025
Severfield to cut 6 per cent of staff despite ‘solid’ order book

Severfield to cut 6 per cent of staff despite ‘solid’ order book

April 24, 2025
Bovis promotes operations head to board

Bovis promotes operations head to board

April 24, 2025
China expresses condolences over death of Pope Francis, World News

China expresses condolences over death of Pope Francis, World News

April 24, 2025
Pope Francis’ body taken in procession to St Peter’s for lying in state, World News

Pope Francis’ body taken in procession to St Peter’s for lying in state, World News

April 24, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, June 24, 2025
No Result
View All Result
  • HOME
  • BUSINESS
  • ENTERTAINMENT
  • POLITICAL
  • TECHNOLOGY
  • ABOUT US
  • Login
  • Register
  • HOME
  • BUSINESS
  • ENTERTAINMENT
  • POLITICAL
  • TECHNOLOGY
  • ABOUT US
No Result
View All Result
Huewire
No Result
View All Result
Home BUSINESS AFRICAN AMERICAN (B)

by huewire
December 31, 2024
in AFRICAN AMERICAN (B), ASIAN (B), INDIAN (B), MIDDLE EASTERN (B), NATIVE AMERICAN (B)
0
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Solana shines amid record-breaking DEX trading volumes in December Solana shines amid record-breaking DEX trading volumes in December Gino Matos · 44 seconds ago · 2 min read

In addition to keeping the lead on spot markets, Solana has been the second-largest blockchain for derivatives trading for the third consecutive month.

2 min read

Updated: Dec. 30, 2024 at 9:49 pm UTC

Solana shines amid record-breaking DEX trading volumes in December

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Join Japan's Web3 Evolution Today

DEXs registered new monthly trading volume records in December on spot and derivatives markets, with Solana-based protocols dominating the sector, according to DefiLlama.

As of Dec. 30, on-chain spot trading volumes reached $451.5 billion, a 19% increase from November, which held the previous record of monthly trading volume at $379.5 billion. 

Meanwhile, on-chain derivatives moved $325.3 billion in the same period, a 25% monthly increase and over $10 billion over the previous all-time high registered in March.

Solana maintained its dominance in spot volumes for the third consecutive month, registering nearly $112 billion. This is $15 billion more than Binance Smart Chain (BSC), the second-most used chain for spot trading, with a total volume of $96.2 billion. This is a 166% increase from last month.

Ethereum was the third most used blockchain by spot market traders, with a monthly volume of $86.6 billion, a 21.5% increase from November. 

Despite keeping the lead on the spot market, Solana lost ground to BSC and Ethereum, as its volumes slid 15.7% this month.

Traders rotating liquidity in search of new crypto narratives could be the reason behind Solana’s decrease in spot trading volume. The chain peaked at $132.3 billion last month, the absolute all-time high for on-chain spot trading, so a slight decline in trading volume is expected.

Rise of on-chain derivatives

The trading of derivatives on-chain has grown particularly this year. In 2023, these DEXs registered roughly $73 billion in transactions. In comparison, the lowest monthly trading volume for on-chain derivatives this year was $138.3 billion in October.

Like Solana’s spot market dominance, Hyperliquid has held the crown on the on-chain derivatives trading market for the fourth consecutive month. 

The application-specific blockchain registered steady growth in volume, peaking at $152.4 billion on Dec. 30. This volume is 101% larger than the amount registered last month.

In addition to Hyperliquid’s stellar performance in the on-chain derivatives trading, Solana has kept second place since October.

Although Solana’s derivatives trading volume has dropped 21% since November, it still registered $34.1 billion in monthly trading volume as of Dec. 30.

Mentioned in this article
Latest Ethereum Stories
Latest Press Releases

Read More

Share196Tweet123
huewire

huewire

Recent Comments

No comments to show.

Recent Posts

  • Indices: Already not extreme fear
  • Eurozone: Tariff reversal is some relief, but no game changer – ABN AMRO
  • US: The US has already lost the trade war – ABN AMRO
  • Predictive Analytics Promise the End of ‘Gut Feelings’ in Construction
  • First Border Wall Contracts of Second Trump Term Awarded in Texas, San Diego
Huewire

Copyrights © 2024 Huewire.com.

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • HOME
  • BUSINESS
  • ENTERTAINMENT
  • POLITICAL
  • TECHNOLOGY
  • ABOUT US

Copyrights © 2024 Huewire.com.