{"id":20502,"date":"2025-01-21T16:08:20","date_gmt":"2025-01-21T14:08:20","guid":{"rendered":"https:\/\/forklog.com\/en\/solana-achieves-record-breaking-weekend-amidst-crypto-frenzy\/"},"modified":"2025-01-21T16:08:20","modified_gmt":"2025-01-21T14:08:20","slug":"solana-achieves-record-breaking-weekend-amidst-crypto-frenzy","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/solana-achieves-record-breaking-weekend-amidst-crypto-frenzy\/","title":{"rendered":"Solana Achieves Record-Breaking Weekend Amidst Crypto Frenzy"},"content":{"rendered":"<p>On the eve of <a href=\"https:\/\/u1f987.com\/en\/news\/donald-trump-becomes-47th-president-of-the-united-states-implications-for-the-crypto-industry\">Donald Trump&#8217;s inauguration<\/a>, daily trading volume on the <a href=\"https:\/\/academy.binance.com\/ru\/articles\/what-is-a-decentralized-exchange-dex\">DEX<\/a> network of Solana surged to $27 billion, surpassing Ethereum&#8217;s $5 billion. These figures were highlighted by DeFi enthusiast and founder of Pink Brains studio, known as Ignas.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Probably the craziest weekend in crypto.<\/p>\n<p>Here are 10 charts to visualize it:<\/p>\n<p>1. Record-breaking DEX trading volume:<\/p>\n<p>$27B on Solana, leaving ETH&#8217;s $5B well behind. <a href=\"https:\/\/t.co\/Yao1KDfPJs\">pic.twitter.com\/Yao1KDfPJs<\/a><\/p>\n<p>\u2014 Ignas | DeFi (@DefiIgnas) <a href=\"https:\/\/twitter.com\/DefiIgnas\/status\/1881311913231237291?ref_src=twsrc%5Etfw\">January 20, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Prior to this spike, trading volumes on decentralized exchanges in Solana averaged $5 billion.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1398.webp\" alt=\"1-1398\" class=\"wp-image-250006\"\/><figcaption class=\"wp-element-caption\">Data: X.<\/figcaption><\/figure>\n<p>As a result, the ratio of total DEX turnover to that of <span data-descr=\"centralized platforms\" class=\"old_tooltip\">CEX<\/span> jumped to 19%.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-1000.webp\" alt=\"2-1000\" class=\"wp-image-250007\"\/><figcaption class=\"wp-element-caption\">Data: X.<\/figcaption><\/figure>\n<p>Blockworks analyst Dan Smith recorded $28.2 billion on January 18 and $39.2 billion the following day. The latter figure was driven by trading in Trump Family Tokens ($12 billion), the SOL\/USD pair ($12.9 billion), and stablecoin swaps ($1.5 billion).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Solana sets back to back DEX volume all time highs with $28.2B yesterday and $39.2B today<\/p>\n<p>Today we saw<br \/>\u2014 $12B on Trump Family Tokens \u2122\ufe0f<br \/>\u2014 $12.9B SOL-USD<br \/>\u2014 $1.5B in stablecoin swaps <a href=\"https:\/\/t.co\/CgVHuTJeqg\">pic.twitter.com\/CgVHuTJeqg<\/a><\/p>\n<p>\u2014 Dan Smith (@smyyguy) <a href=\"https:\/\/twitter.com\/smyyguy\/status\/1881205923592749348?ref_src=twsrc%5Etfw\">January 20, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The team behind the popular Solana wallet Phantom reported record on-chain activity. On January 19, users conducted 10 million transactions totaling $1.25 billion, according to their estimates.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Transactions are landing much smoother now and all systems should be back to normal.<\/p>\n<p>Despite all the challenges, our users swapped over $1.25B in volume and made 10M transactions today.<\/p>\n<p>Huge thanks to the <a href=\"https:\/\/twitter.com\/0xMert_?ref_src=twsrc%5Etfw\">@0xMert_<\/a>\/<a href=\"https:\/\/twitter.com\/heliuslabs?ref_src=twsrc%5Etfw\">@heliuslabs<\/a> and <a href=\"https:\/\/twitter.com\/ethanyish?ref_src=twsrc%5Etfw\">@ethanyish<\/a>\/<a href=\"https:\/\/twitter.com\/AlliumLabs?ref_src=twsrc%5Etfw\">@AlliumLabs<\/a> teams for helping us\u2026<\/p>\n<p>\u2014 Phantom (@phantom) <a href=\"https:\/\/twitter.com\/phantom\/status\/1881190197397692647?ref_src=twsrc%5Etfw\">January 20, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Ignas, Solana&#8217;s success was fueled by capital flows from Arbitrum, Ethereum, Base, and BNB Chain. DeBridge reports weekly inflows of $300 million, with outflows of $140 million over the same period.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-562.webp\" alt=\"3-562\" class=\"wp-image-250008\"\/><figcaption class=\"wp-element-caption\">Data: X.<\/figcaption><\/figure>\n<p><span data-descr=\"total value locked\" class=\"old_tooltip\">TVL<\/span> in the blockchain rose to $11 billion, surpassing pre-FTX collapse levels. Solana&#8217;s market share increased to 9.06% (9.54% on January 20), according to <a href=\"https:\/\/defillama.com\/chain\/Solana\" title=\"\">DeFi Llama<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/4-355.webp\" alt=\"4-355\" class=\"wp-image-250009\"\/><figcaption class=\"wp-element-caption\">Data: DeFi Llama.<\/figcaption><\/figure>\n<p>On the day of <a href=\"https:\/\/u1f987.com\/en\/news\/what-to-know-about-donald-trumps-memecoin-surge-supply-and-industry-impact\">Trump&#8217;s launch<\/a>, the SOL\/ETH exchange rate saw a record increase of 25.4%.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/5-220.webp\" alt=\"5-220\" class=\"wp-image-250010\"\/><figcaption class=\"wp-element-caption\">Data: X.<\/figcaption><\/figure>\n<p>Ignas noted a side effect of strong on-chain metrics, with some users experiencing &#8220;stuck&#8221; transactions and a spike in fees. Total fees for the day amounted to $57 million.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/6-162.webp\" alt=\"6-162\" class=\"wp-image-250011\"\/><figcaption class=\"wp-element-caption\">Data: X.<\/figcaption><\/figure>\n<p>The expert cautioned against &#8220;hyping&#8221; the topic of &#8220;stable money,&#8221; even considering the burning of 81% of the daily issuance.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/7-103.webp\" alt=\"7-103\" class=\"wp-image-250012\"\/><figcaption class=\"wp-element-caption\">Data: X.<\/figcaption><\/figure>\n<p>On January 19, the &#8220;meme token factory&#8221; Pump.fun on Solana celebrated its first anniversary. Since its launch, the platform&#8217;s total revenue from fees has reached $431 million.\u00a0<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the eve of Donald Trump&#8217;s inauguration, daily trading volume on the DEX network of Solana surged to $27 billion, surpassing Ethereum&#8217;s $5 billion. These figures were highlighted by DeFi enthusiast and founder of Pink Brains studio, known as Ignas. Probably the craziest weekend in crypto. Here are 10 charts to visualize it: 1. Record-breaking [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,787,991,1268,1159],"class_list":["post-20502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-dex","tag-donald-trump","tag-on-chain-analysis","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"77","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=20502"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20502\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/20501"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=20502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=20502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=20502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}