What you need to know about Solana’s latest milestones

[ad_1]

Daily trading volume for Tier 1 (L1) Solana (SOL) has reached its highest level since December 2022.

As of January 3, economic throughput of SOL and Solana Main Library (SPL) tokens on the *Solana blockchain totaled $42 billion, a 641% increase since December 1.

*Economic throughput: refers to the quantity of products or services that an enterprise can produce and provide to customers within a certain period of time. The term is often used to describe a company’s productivity or how quickly something can be processed.

According to the data provider, SPL tokens include USD Coin (USDC), Serum (SRM), Raydium (RAY), Ethereum (ETH), and Tether (USDT).

Source: The Block

As daily transaction volume on the network surged last month, Solana’s fees and revenue soared as well.

Token Terminal data shows that the transaction fees recorded by Solana in the past 30 days totaled $10.34 million, a year-on-year increase of 205%. Comparable operating income was $5.17 million, also up more than 200% during the same period.

Solana’s DeFi and NFT

A closer look at the ecosystem reveals that Solana’s decentralized finance (DeFi) and non-fungible token (NFT) space has grown significantly over the past 30 days.

Data from Artemis shows that the total trading volume completed through the Solana decentralized exchange (DEX) increased by 41% from $813 million to $1.15 billion.

Data from DefiLlama shows that Solan’s DeFi total value locked (TVL) has also grown significantly so far this year. It was $1.4 billion at press time, the highest level since August 2022.

We’ve seen most of the TVL growth happen in the past three months. Since October 1, Solana’s TVL has increased by more than 300%.