Tuesday, November 5, 2024

Memecoins Gas Document Month-to-month DEX Buying and selling Volumes

Merchants purchased and bought greater than $261 billion of tokens on decentralized exchanges in March, outperforming 2021’s greatest month by almost $25 billion.

Memecoin merchants catapulted decentralized trade exercise to all-time highs final month, based on DefiLlama.

March registered an all-time excessive transaction quantity of $261 billion, outscoring the final peak in Nov. 2021, when $237 billion was transacted throughout DEXs. Final month additionally witnessed a greater than twofold enhance from February, when merchants purchased and bought $121 billion of crypto property.

Monthly DEX Volume chart
Month-to-month DEX Quantity

The highest platforms throughout March had been Ethereum, with $75 billion, adopted by the ecosystem most favored by memecoins, Solana, which noticed $58 billion. Binance Good Chain (BSC) closes out the highest three with $46 billion.