Solana's trading volume in December reached a record-breaking $451.5 billion, a 19% increase from the previous month. On-chain derivatives trading volume also hit a new high of $325.3 billion, showing a significant increase year-over-year.
Solana emerged as the leading blockchain for spot trading, with a total volume of nearly $112 billion, surpassing Binance Smart Chain and Ethereum. However, the trading volume of Solana's native token, $SOL, experienced a decline of 15.7% month-over-month. Despite this, Solana's overall activity highlights its growing prominence in the crypto landscape.
Solana's ability to navigate challenges and its stable network have contributed to its resurgence. The network has not experienced major disruptions in 2024, unlike the frequent outages in 2022. Solana's diverse ecosystem attracts a wide range of investors, enhancing demand and outperforming Bitcoin and Ethereum in several growth metrics. The network's innovative solutions, such as Solaxy's Layer-2 technology, ensure transaction speed even during traffic spikes.
In addition to its trading achievements, Solana's ecosystem saw a substantial increase in the Total Value Locked (TVL) of stablecoins, surpassing $5 billion in December. This growth included the addition of $1 billion worth of stablecoins, with $4 billion represented in $USDC and $1 billion in $USDT. While Solana's TVL is still one-tenth that of Ethereum, the network has demonstrated resilience and potential for future growth.
Solaxy's presale of the $SOLX token in December raised over $7.8 million. The token is currently priced at $0.001588 and is expected to increase in value. Analysts speculate that $SOLX could potentially see a value increase of up to 100 times, making it an attractive opportunity for investors. Thorough research is essential before making any financial commitments. The presale offers a chance for investors to acquire quality tokens at a favorable price point, presenting potential returns in the evolving cryptocurrency market.