Solana price has remained on edge this month, tracking the performance of other Bitcoin and other altcoins. It has pared back some of the losses made on Monday as investors watch the ongoing trends in the DEX industry. So, will the SOL price explode higher to $300 as its DEX volume rise?
Solana Price Could Benefit From Rising DEX Volume
One catalyst for the SOL price is the ongoing performance of its decentralized exchange networks, which have continued to gain share. Data aggregated by DeFi Llama reveals that Solana has become the most active blockchain for DEX networks.
Solana protocols handled $27 billion in the last seven days beating Ethereum, which processed $16 billion in the same period. Popular Solana DEX networks like Raydium, Lifinity, Orca, and Stabble are driving this growth.
Solana DEX Volume
Solana’s path to dominate the DEX industry is mostly because of meme coins like Pudgy Penguins, Bonk, dogwifhat, and Fartcoin. These coins have all accumulated a market cap of ov
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