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Solana demonstrated remarkable resilience in December, achieving over $100 billion in decentralized exchange (DEX) trading volume for the second consecutive month, surpassing competitors like Binance Smart Chain and Ethereum. Despite a 20% drop in SOL's price, on-chain activity surged, with daily transactions hitting an all-time high of 1.5 billion and total value locked increasing by 57% to $9.1 billion. Additionally, restaking activity flourished, with Solana's staking pool Jito generating over $100 million in revenue from priority fees and tips.
Solana's DApp revenue skyrocketed 15x in 2024, reaching $92 million, driven by meme coins and DeFi protocols. Meme coin DApps generated $509 million, with Pump.fun alone earning $106 million in November, despite facing criticism and a revenue drop after suspending its livestreaming feature. DeFi platforms like Raydium and Jupiter also contributed significantly, with Raydium capturing 86% of spot DEX revenue.
UBS has successfully piloted its blockchain-based payment system, UBS Digital Cash, aimed at enhancing the efficiency and security of cross-border transactions for corporate clients. Utilizing a private blockchain, the system enables near-instant processing of payments through self-executing smart contracts, facilitating real-time transactions in multiple currencies. The initiative is part of UBS's broader digital cash strategy, which includes collaborations on central bank digital currencies and tokenized assets.
Veronika Rinecker
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
solana achieves over 100 billion in dex trading volume amid market downturn
19:04 27.12.2024
solana dapp revenue surges 15x in 2024 driven by meme coins and defi
16:20 19.12.2024
ubs tests blockchain solution for efficient cross-border payments
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