Solana (SOL) Blockchain Becomes the macOS of Blockchains, Records Over 60% of DEX Volume in May: Pantera Capital

Behind this growth is a monolithic architecture, said Pantera in a June 18 report, calling the network the macOS of blockchains.

Over 60% of the incremental volume in decentralized exchanges (DEXs) in May was recorded on the Solana blockchain, according to data compiled by venture capital firm Pantera Capital.

Behind this growth is a monolithic architecture, said Pantera in a June 18 report, calling the network the “macOS of blockchains.”

Solana’s share of DEX volume has risen from 0% in early 2021 to 24% by May 2024, thanks to an approach similar to Apple’s macOS architecture that integrates hardware and software for superior performance. According to Pantera, Solana’s architecture has enabled a surge in retail activity over the past few months:

Pantera is one of the investors in the Solana blockchain. Earlier this year, the venture capital firm raised money for a new fund aimed at purchasing up to $250 million worth of Solana’s SOL tokens from the FTX bankruptcy at a steep discount.

The network’s unique active addresses rose from 14,000 in October 2020 to nearly 1.3 million by May 2024. As a result, priority fees on Solana have exploded, growing from less than $100,000 per month in mid-2023 to more than $60 million in March 2024, notes the report.

Solana’s architecture has also made it a popular choice for developers behind memecoins and decentralized infrastructure projects. Since January, the network has seen a growing volume of new tokens, outpacing other chains such as BNB Smart Chain, Ethereum and Polygon. The report notes:

Solana’s performance is also affecting its SOL token. According to CoinMarketCap, the price of SOL has risen over 723% in the past year, trading at $123 at the time of writing.

News source：https://www.kdj.com/cryptocurrencies-news/articles/solana-sol-blockchain-macos-blockchains-records-dex-volume-pantera-capital.html

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