What’s Happening on Solana? Trading Volume Exceeds Ethereum and BNB Networks Combined – Here is the Answer

Memecoin trading is on the agenda once again in Solana. According to DefiLlama data, decentralized exchange (DEX) volume on Solana in the last 24 hours reached a staggering $2 billion.

This figure exceeds the total DEX trading volume recorded on Ethereum and many layer 2 networks and BNB Chain during the same period. This marks a first for Solana.

The driving force behind Solana's wild trading on Sunday was Neiro, a new memecoin that quickly went viral among the cryptocurrency community on Twitter. Neiro is the name of the new dog adopted by the same family after Dogecoin's mascot Kabosu, who passed away recently.

The popularity of the Neiro memecoin has led to the launch of several imitation altcoins on Solana. According to data from Dexscreener, trading activity on these Neiro coins has currently exceeded the $1 billion mark.

The success of one memecoin often leads to the proliferation of others with the same name. Therefore, Neiro is the name of several tokens currently traded on Solana, and the largest has a market cap of $58 million, followed by another worth $13 million.

*This is not investment advice.