This is why Solana Diffie breaks ecological records.

Solana is showing strong growth amid a bull market run across the crypto industry.

In fact, Solana's SOL token has emerged as one of the best performers, rising nearly 30% to $190 in the past month.

Solana Diffie rises to an all-time high.

Solana's decentralized finance (DeFi) ecosystem has grown along with the broader crypto market since the beginning of the year. DeFillama's data reflects this trend, showing an unusual increase in Solana-based decentralized exchange (DEX) activity.

In the last 24 hours alone, daily trading volume has surpassed $3.6 billion, a new all-time high.

This impressive growth in Solana DEX transactions can be mainly attributed to two key factors. One is the network's commendably low transaction fees, and the other is the growing popularity of meme coins. Notable meme coins such as Wen, Dogwhiphat, Bonk, and Book of Meme (BOME) have recently seen significant trading volumes and demand.

Read more: 7 Hot Meme Coins and Altcoins Trending in 2024

Interestingly, the combined effect of these factors has caused Solana's DEX trading volume to outperform Ethereum in recent months.

Mert Mumtaz, CEO of Helios Labs, said: “Solana is currently incredibly busy and still breaks records in terms of DEX volume to see what we can get as the network performs better.

Specifically, Solana is the top three leading competitor among DEX platforms. Orca leads the way with $1.64 billion traded in the last 24-hours, followed by Radium with $867 million and Lifinity with $679 million.

Meanwhile, the total value of assets locked on Solana's network is at a two-year high of nearly $4 billion. Defy analyst Patrick Scott pointed out an interesting fact. Solana Defy TVL, including liquid staking, flipped Binance Smart Chain (BSC) for the first time yesterday.

In 2023, Solana Daffy is declared dead. Since then, his TVL has risen 18x. And yesterday, Solana overturned Ethereum's daily stable coin turnover rate. This is quite a change,” said noted crypto influencer Lark Davis.

In addition, the network has seen a significant increase in the creation of new Solana Public Library (SPL) tokens. Last week, an average of over 7,800 SPL tokens were transcribed daily on the Solana network. On March 11, this figure rose to 9,690 tokens, setting a new one-day record, according to Solscan data.

Read more: 6 Best Platforms to Buy Solana (SOL) in 2024

All these developments reflect Solana's upward trajectory in the DeFi ecosystem. This makes it a strong contender with Ethereum's enduring sector dominance.