- Solana, which is now commemorating its fifth year after the creation of its genesis block on March 16, 2020.
- The data from Mercuryo demonstrates that there are considerable increases in volatility in USDt trading on the Solana transport layer.
It was announced today that Mercuryo, a global payments infrastructure platform, has disclosed data that demonstrates exceptional levels of volatility in the trading of Tether tokens (USDt) on the Solana transport layer this year. This suggests that the leading layer-1 blockchain is capturing the eye of cryptocurrency traders.
Solana, which is now commemorating its fifth year after the creation of its genesis block on March 16, 2020, has developed into one of the most busy blockchain networks in terms of the magnitude of the transactions it processes.
The data from Mercuryo demonstrates that there are considerable increases in volatility in USDt trading on the Solana transport layer. This occurs when players reposition themselves in pursuit of trading opportunities:
- 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 stated:
“Solana captivates the interest of crypto traders across the globe. As Solana celebrates its fifth birthday, our transaction data on Tether tokens on the Solana transport layer suggests an unparalleled level of trading activity amid an explosion of interest in trading opportunities on Solana that we’ve seen over the past 12 months.”
Due to the fact that holders of Solana (SOL) are able to utilize the digital token to acquire meme coins like dogwifhat (WIF) and Bonk (BONK), there has been a significant increase in the amount of interest in meme coins when it comes to Solana. Pump.fun, a platform that allows users to generate meme coins, has generated more than $540 million in revenue over the course of the previous year. At some instances, it has even eclipsed Ethereum in terms of revenue over 24-hour intervals.
Since the creation of the first Solana block on March 16, 2020, the network has successfully handled over 408 billion transactions and approximately one trillion dollars’ worth of value on decentralized exchanges. As a result, it has established itself as one of the most prominent layer-1 blockchains in the business.
Mercuryo is a pioneer and innovator in the rapidly developing Web3 domain. They provide a wide range of payment options in addition to a smooth interaction with the blockchain. Mercuryo’s user-friendly solutions are making the experience of entering the digital token arena easier for those who are just starting out. Mercuryo specializes in the effective movement of funds within the DeFi ecosystem. Additionally, it integrates a variety of payment methods into a single interface.
