December was an excellent month for the crypto business as a complete. As of December 30, cumulative on-chain spot buying and selling volumes reached a report $451.5B—a 19% bounce from November (which beforehand held the report at $379.5B).
During the identical interval, on-chain derivatives buying and selling volumes reached a report $325.3B, a $81.3B improve from final yr and a $10B improve from March.
Solana Beats Binance Smart Chain and Ethereum
Solana led this development. For the third consecutive month, it held the place for the most-used blockchain for spot buying and selling, with a complete quantity of practically $112B. Binance Smart Chain (BSC) got here second with a quantity of $96.2B, and Ethereum got here third with a month-to-month quantity of $86.6B.
It’s value noting that though Solana ecosystem outperformed BSC and Ethereum, $SOL’s buying and selling quantity fell by 15.7% month-to-date. However, final month it hit $132.3B, an all-time excessive for on-spot buying and selling. Hence, a dip was to be anticipated.
Alongside its distinctive efficiency in on-spot buying and selling, the Solana community added $1B value of stablecoins to its Total Value Locked (TVL) in December. This brings the TVL of stablecoins on its community to $5B. Out of this, $4B is in $USDC, and the remaining $1B is in $USDT.
The rising worth of stablecoins on Solana exhibits the belief traders have on this community. But the actual query is—can Solana deal with such fast development?
Can Solana Handle the Growing Demand?
Two years after its 2022 dip, Solana stands neck-and-neck with Bitcoin and Ethereum. Yet, it’s nonetheless a comparatively small community with simply one-seventh of Ethereum’s TVL. Naturally, issues come up about its functionality to deal with the demand.
It’s too early to evaluate for positive. Still, listed below are some the explanation why we expect Solana will proceed to thrive:
- Solana isn’t any stranger to setbacks. 2022 was one of many darkest years in its journey, given the FTX collapse and $SOL’s worth plummeting to only $8. Now, nevertheless, it’s priced at over $200. This is all of the proof we want of its resilience.
- Solana had no main outages in 2024. In 2022, main outages had been taking place each month.
- It has a various ecosystem, which attracts several types of traders. The extra the variability, the extra the demand. Solana has, in truth, already outperformed each Bitcoin and Ethereum in lots of areas of development.
On prime of that, Layer-2 resolution Solaxy goals to assist Solana deal with the rising visitors with out hampering transaction pace. It’s honest to say that Solana could be very a lot forward of the curve and is provided to deal with no matter comes its approach.
Solaxy Raises $7.8M, Promises to Solve Solana’s Limitations
The presale of $SOLX, Solaxy’s native forex, kicked off in December and has already surpassed $7.8M. The token is at present priced at $0.001588, however the value will improve as soon as the presale hits the subsequent milestone (which gained’t take lengthy, given the present tempo).
Some specialists even predict $SOLX to be the next 100x coin, however we all the time suggest doing all your due diligence.
While we don’t give monetary recommendation, when you are fascinated with investing in $SOLX, there can hardly be a greater time. Presale is a primary alternative to seize the best meme coins for the bottom doable value.
