67.8 Billion $ In Transactions - A Continuous Rise For Solana's Crypto?

After a period of calm, SOL crypto is back in force, now trading at $146 per piece, with an impressive increase of 12% in just one week. Other crypto market indicators follow the same positive trend, confirming a resurgence of activity. But beyond this surge, the altcoin market is also very dynamic, with astonishing transaction volumes. Could Solana be on the verge of strengthening its dominance?

Solana: the giant crushing its competitors

The Solana network is not just another blockchain among others; it is both an Ethereum Killer and a bulldozer in motion. The SOL crypto dominates with an astronomical transaction volume of $67.8 billion. This figure does not come out of nowhere: it reflects the growing enthusiasm of traders and investors for this network, which is becoming increasingly attractive.

It’s no wonder that financial giants are starting to settle in.

TOP #SOLANA TOKENS BY WEEKLY TRADING VOLUME$SOL $WIF $FIDA $BONK $JUP $GMT $PYTH $GRT $JTO $DRIFT $PRCL $CVC $TNSR $SAMO $RAY pic.twitter.com/ga6SpKkPlU

— PHOENIX – Crypto News & Analytics (@pnxgrp) September 22, 2024

But SOL crypto is not alone in making waves on Solana. Tokens like Dogwifhat (WIF) and (Bonk) BONK, that memecoin that made a taxi driver rich, also play starring roles, with $1.7 billion and $1.2 billion in transactions, respectively.

Not to forget the newcomers trying to make a place for themselves in the sun:

• Bonfida (FIDA): $41.1 million;
• Jupiter (JUP): $1.1 billion;
• Stepn (GMT): $339.7 million.

In summary, Solana has no intention of slowing down its wild race, and SOL seems well-poised to remain the king of this crypto jungle.

SOL: a major player in the crypto market

If you still have doubts about the impact of SOL crypto on the market, these figures should convince you. While other cryptos struggle to maintain their place, SOL shines at the top of the Solana ecosystem.

So much so that even tokens like Raydium (RAY), which powers the Solana automated market, have seen $408.8 million in volume. Others like Samoyedcoin (SAMO), more modestly, have recorded $24.8 million.

The Solana network continues to grow, attracting not only developers but also major investors, and it is this diversity that makes its strength. According to Phoenix data, each token plays a crucial role in the ecosystem:

• Pyth Network (PYTH): $1.1 billion in volume;
• The Graph (GRT): $1.5 billion.

This growing interest is only accelerating the network’s development speed, confirming the strategic place of Solana in the crypto world. And if you are still wondering why Société Générale, the author of a euro stablecoin project, Citibank and Franklin Templeton are eyeing this network, the figures speak for themselves.