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Jupiter, Orca, Raydium volume up sharply as Book of Meme surges

By:
on Mar 16, 2024
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  • Solana price surged to over $200 on Saturday.
  • There is demand for Solana tokens like Book of Memes.
  • Solana's exchanges were among the best-performers in the industry.

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Solana’s decentralised exchanges (DEX) were the leading platforms on Saturday as investors and traders pumped Book of Meme, the new hot cryptocurrency.

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Data compiled by CoinMarketCap shows that Jupiter’s volume jumped to over $3.2 billion in the past 24 hours, its biggest on record. This volume represented about 20% of all the DEX volume on Saturday. It was also higher than that of Uniswap, the biggest DEX in the world.

Raydium was the second-biggest DEX on Saturday as it handled over $1.99 billion. It even passed Orca for the first time. Orca processed tokens worth more than $1.4 billion.

These tokens’ performance happened as investors embraced more Solana tokens. The most recent meme coin is known as Book of Meme, which has pumped by more than 150% in the past 24 hours, giving it a market cap of over $1.3 billion. Most of the Book of Memes tokens were traded in Raydium, Gate.io, and Orca. 

Solana meme coins have done well recently. The most recent data shows that Dogwifhat, has become the fourth-biggest meme coin in the world after Dogecoin, Shiba Inu, and Pepe. Other top Solana meme coins are the likes of Bonk, Myro, and Popcat. 

The surge in Jupiter, Raydium, and Orca’s volume has also triggered a major rally in Solana, which has crossed the $200 level for the first time in over two years. Solana’s market cap has jumped to over $86 billion, making it the fifth-biggest cryptocurrency in the world.

Most importantly, Solana has overtaken Tron in the DeFi industry as it became the second-biggest chain in the world after Ethereum. It has over $10.2 billion in assets, with Marinade, Jito, Pyth Network, and Kamino being the biggest players.

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