Solana marks 5th Anniversary with High USDT Volatility
Solana is celebrating its fifth birthday with a bang.New data from Mercuryo shows extreme volatility in Tether (USDT) trading on Solana this year.This reflects growing interest in Solana (SOL), now one of the busiest blockchain networks.
Since its launch in 2020, Solana has processed over 408 billion transactions and nearly $1 trillion in decentralized exchange trading. Its high-speed, low-cost transactions make it a favorite for traders.
Mercuryo’s data reveals dramatic USDT price swings on Solana:
- 100% surge (week of Jan 13)
- 63% drop (Jan 20)
- 129% recovery (Jan 27)
- 61% plunge (Feb 10)
- 137% spike (Feb 24)
Greg Waisman, Co-founder and COO at Mercuryo, notes, “Solana’s fifth anniversary coincides with intense trading activity. Our data shows unprecedented interest in Solana trading opportunities.”
The memecoin frenzy is fueling Solana’s trading volume. Users are buying meme coins like dogwifhat (WIF) and Bonk (BONK) with Solana tokens. Pump.fun, a popular platform, has generated over $540 million in revenue. Its trading volume has even surpassed Ethereum’s at times.
This highlights Solana’s significant role in the memecoin space and its growing influence in the crypto world.
