tl;dr
Solana's decentralized exchanges (DEXs) have outperformed those on other networks, recording 210 million transactions in the past 30 days. This reflects Solana's increasing role in the decentralized finance (DeFi) ecosystem and its efficiency in handling a high volume of transactions. Solana's DEXs ...
Solana's DEXs Outperform Ethereum, BNB Chain, and Arbitrum Solana's decentralized exchanges (DEXs) have outperformed those on other networks, recording 210 million transactions in the past 30 days. This reflects Solana's increasing role in the decentralized finance (DeFi) ecosystem and its efficiency in handling a high volume of transactions.
Solana's DEXs significantly outperformed 15 other blockchains, with a total volume of $47.75 billion and over 11 million unique traders. The Solana native token (SOL) drove roughly 40% of the transactions, while meme coins and low-capitalization tokens contributed between 20% and 30%.
Solana has been highlighted as the fastest among major blockchains, with an actual daily average of 1,504 transactions per second (TPS) as of April 6, 2024.
Data from the Dune dashboard shows that Solana’s DEXs have significantly outperformed 15 other layer-1 (L1) and layer-2 (L2) blockchains. These include Ethereum, BNB Chain, and Arbitrum. Solana’s 210 million transactions over the past 30 days place it far ahead of its nearest competitors. BNB Chain recorded 29 million transactions, while Arbitrum had 13 million. Ethereum, a major player in the DeFi space, managed only 6.7 million transactions, putting it in fifth place.
Solana’s DEXs also saw a remarkable total volume of $47.75 billion and over 11 million unique traders within the same timeframe. These numbers contrast sharply with BNB Chain, which reported a total volume of $20.54 billion and over 4.6 million unique traders. Raydium, a leading Solana DEX, emerged as a key player with an average weekly trading volume of approximately $5 million. Whirlpool and Meteora followed closely, each with average weekly trading volumes of around $1.4 million. Notably, these figures do not include data from some popular Solana DEXs, such as Orca.
The Solana native token (SOL) primarily drove the high transaction numbers, accounting for roughly 40% of the transactions. Additionally, meme coins and low-capitalization tokens contributed between 20% and 30% of the transactions.
These figures are particularly noteworthy given that meme coins played a significant role in Solana’s performance in Q1 2024. BeInCrypto reported that the market cap of the top 10 Solana meme coins skyrocketed by over 800% during that period. By the end of March, these assets reached a total market capitalization of $9.36 billion.
A recent report from CoinGecko highlighted Solana as the fastest among major blockchains. As of April 6, 2024, it had an actual daily average of 1,504 transactions per second (TPS). This speed is 46 times faster than Ethereum and more than five times faster than Polygon—the fastest Ethereum scaling solution.
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Company: C3 Ai Inc
Stock Ticker: C3
Sector: Technology
Industry: Services-Prepackaged Software
Market Cap: $3,220,873,000
Dividend Yield: None
EPS: -2.33
P/E Ratio: 2.536
ROE: -0.917
Volume: 296,402,000
Stock Price: $29.73
52-Week Range: $0 - $0.176
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Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES
Market Cap: 112.845M
Dividend Yield: None
Beta (5Y Monthly): -0.16
Price/Earnings Ratio (TTM): 1.852
Earnings Per Share (EPS) (TTM): -0.0891
Shares Outstanding: 104.671M
Profit Margin: 5.5%
Operating Margin: 3.42%
Return on Assets: 1.128%