Meme coin craze pushes Solana ecological token daily transaction volume to a new high in more than a year

Data from The Block shows that the single-day trading volume of Solana-based tokens has exceeded $40 billion, which is a new high since October 2022. At the same time, economic throughput of tokens built using the SPL standard has increased by 700% in the past 30 days, reaching a new high since the end of 2022. Compared to the transaction volume recorded in early December 2023 (when the 7-day moving average exceeded $5 billion), the current Solana on-chain transaction volume (7-day moving average) has surged 700%. Nansen Research Manager Sandra Leow said: "The number of transactions on the Solana chain has increased from approximately 20 million to 30 million transactions per day to more than 50 million currently. We have also seen the number of daily active wallets on the Solana chain increase from approximately 12 in October 2023. 10,000 to approximately 470,000 in January 2024.” Data scientist Andrew Hong said that on-chain analysis shows that most of the trading volume in Solana ecological DEX originates from SOL-USDC, USDT-USDC, and SOL-USDT trading pairs, followed by Meme currency (such as BONK) related trading pairs. (The Block)