The crypto market is experiencing a surge with Bitcoin reaching new highs and growing interest in Solana-based DEX tokens, fueled by Donald Trump's election victory and pro-crypto stance.
What’s Driving the Rally?
The explosive growth in Solana's DeFi ecosystem is the core reason for this rally. Solana's DeFi transaction volume has soared by 106% in the last 30 days, reaching $6.52 billion. Raydium leads with a 41.4% market share, followed by Jupiter at 35.14% and Orca at 9.98%.
Memecoins Powering Solana’s DeFi Boom
Memecoin trading is a major force behind Solana's DeFi growth, accounting for almost 50% of DEX transaction volume. Raydium has particularly benefited from this memecoin momentum, capturing a substantial market share.
What to Expect Ahead?
With tokens gaining traction and memecoins flourishing, Solana's DEX projects continue to thrive. Donald Trump's victory and crypto-positive policy may lead to further price gains for DEX tokens like Raydium, Jupiter, and Orca.
Currently, the crypto market stands on the verge of significant changes driven by both political developments and the internal growth of Solana's DeFi projects.
