Solana’s [SOL] lackluster performance in DeFi space could be due to…

Solana’s [SOL] lackluster performance in DeFi space could be due to...

As part of the marketing strategy, half of the 100 trillion token supply was airdropped for free to the community, including builders and NFT creators. This created massive hype for the meme coin,However, with the drop in key metrics of BONK, Solana felt the pinch. Consider this- BONK has shed its value by almost 25% over the last seven days, perIts daily active users and the number of transactions have been on a continuous decline, data from Dune Analytics revealed.

However, its performance on the NFT front kept the ecosystem running. The daily trading volume hit the $1 million mark quite frequently in February, which was fueled by

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Solana’s DeFi space suffers, but here’s the unexpected NFT twistSolana’s DeFi activity declines, however, the NFT market shows a promising future. Following the broader market, the SOL token faces selling pressure. Solana’s hold in the DeFi space continued to dwindle. Despite the overall market observing a recovery, Solana underperformed in the DeFi market. Well, the fall in DeFi activity could signal an overall decline […]
Read more »

Arbitrum’s performance on this front could help it to edge out competitionBig DeFi protocols powered Arbitrum’s network activity. Arbitrum’s DEX volume surpassed that of competitors like Optimism and Polygon. Arbitrum’s performance in the DeFi space has been a revelation of late. The sentiment was echoed by data from DeFiLlama, which highlighted the chain’s increasing share of the daily trading volume recorded by Sushiswap [SUSHI], one of […]
Read more »

PancakeSwap: Jump in active user count leads to a surge in revenueThe count of active users on PancakeSwap in the last month totaled 1.37 million. CAKE’s buying pressure is on a decline, hence a price correction might be due. With 1.37 million users in the last 30 days, PancakeSwap led as the decentralized finance (DeFi) protocol with the most active users in the last month, data […]
Read more »

Can Uniswap [UNI] overtake Ethereum [ETH] on this front?Uniswap remained the most profitable DeFi protocol in terms of user fees. With V3 deployment on BNB Chain getting approval, UNI’s price rise looked likely. Uniswap [UNI], the world’s largest decentralized exchange (DEX) in the crypto world, continued to attract users to its fold because of high protocol fees. What’s noticeable is how Uniswap managed […]
Read more »

Russian spacecraft docked at space station has coolant leak, crew safeAn uncrewed Russian supply ship docked at the International Space Station has lost coolant pressure, the Russian space corporation and NASA reported Saturday, saying the incident doesn't pose any danger to the station's crew.
Read more »

You can taste expensive whisky in a magnificent Toronto event space next monthWhisky lovers rejoice! The LCBO will be hosting a whisky dinner at an event venue in Toronto that many people might not even know exists. Attendees...
Read more »