The trading volume of tokens based on Solana has reached its highest level in over a year

The daily trading volume of tokens based on Solana has surpassed $40 billion, reaching the highest level since October 2022, according to data from The Block's Data Dashboard. Simultaneously, the growth in throughput of the token economy built using the SPL standard has reached its highest level since the end of 2022. Compared to the trading volume recorded in early December, Solana's current transaction volume has surged by 700%, with the 7-day moving average at approximately $5 billion. Data scientist Andrew Hong suggests that on-chain analysis indicates the primary trading volume within the Solana ecosystem is driven by memecoins, such as BONK, following SOL-USDT/USDC pairs.