{"id":5894,"date":"2025-01-03T08:47:21","date_gmt":"2025-01-03T08:47:21","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=5894"},"modified":"2025-01-03T08:47:21","modified_gmt":"2025-01-03T08:47:21","slug":"solana-trading-volumes-break-records-stablecoin-tvl-surpasses-5b","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=5894","title":{"rendered":"Solana Trading Volumes Break Records, Stablecoin TVL Surpasses $5B"},"content":{"rendered":"
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December was a great month for the crypto industry as a whole. As of December 30, cumulative on-chain spot trading volumes reached a record $451.5B\u2014a 19% jump from November (which previously held the record at $379.5B).<\/p>\n

During the same period, on-chain derivatives trading volumes reached a record $325.3B, a $81.3B increase from last year and a $10B increase from March.<\/p>\n

Solana Beats BSC and Ethereum<\/h2>\n

Solana<\/a> led this growth. For the third consecutive month, it held the position for the most-used blockchain for spot trading, with a total volume of nearly $112B. Binance Smart Chain (BSC) came second with a volume of $96.2B, and Ethereum<\/a> came third with a monthly volume of $86.6B.<\/p>\n

It\u2019s worth noting that although Solana ecosystem outperformed BSC and Ethereum, $SOL\u2019s trading volume fell by 15.7% month-to-date. However, last month it hit $132.3B, an all-time high for on-spot trading. Hence, a dip was to be expected.<\/p>\n

Alongside its exceptional performance in on-spot trading, the Solana network added $1B worth of stablecoins to its Total Value Locked (TVL) in December. This brings the TVL of stablecoins on its network to $5B. Out of this, $4B is in $USDC, and the remaining $1B is in $USDT.<\/p>\n

The growing value of stablecoins on Solana shows the trust investors have in this network. But the real question is\u2014can Solana handle such rapid growth?<\/p>\n

Can Solana Handle the Growing Demand?<\/h2>\n

Two years after its 2022 dip, Solana stands neck-and-neck with Bitcoin and Ethereum. Yet, it\u2019s still a relatively small network with just 1\/7th of Ethereum\u2019s TVL. Naturally, concerns arise about its capability to handle the demand.<\/p>\n

It\u2019s early to judge for sure. Still, here are some reasons why we think Solana will continue to thrive:<\/p>\n