Solana continues to assert its dominance in the decentralized exchange (DEX) ecosystem, outperforming Ethereum Mainnet and Base in weekly DEX volume for the second consecutive week.
🚨JUST IN: Solana continues to lead in weekly DEX volume, surpassing Ethereum Mainnet and Base combined for two weeks in a row. pic.twitter.com/Dsyy8c2Tem
— SolanaFloor (@SolanaFloor) January 13, 2025
Record-Breaking Performance on Solana
Over the weekend, Solana achieved a significant milestone, with its true transaction per second (TPS) exceeding 1,400 tx/sec. Meanwhile, pumpdotfun’s total revenue on the Solana blockchain crossed the $400 million mark, highlighting the network’s growing traction in the crypto space.
BREAKING: @pumpdotfun total revenue surpassed $400M pic.twitter.com/G5qCzHluoe
— SolanaFloor (@SolanaFloor) January 12, 2025
Adding to Solana’s momentum, @circle Treasury minted 250 million USDC on the network, further strengthening its position as a leading blockchain for stablecoin transactions.
BREAKING: $250M USDC was just minted by @circle Treasury on Solana. pic.twitter.com/m2GsVqg9zE
— SolanaFloor (@SolanaFloor) January 11, 2025
Whale Movements Raise Eyebrows
Notable whale activity has drawn attention as the wallet 7qw9C…NbSZL made significant transactions. After hoarding SOL eight months ago, the whale recently recharged 50,227 SOL (worth $9.4 million) to Kraken. If sold, this move could yield a profit of $1.227 million.
This whale had previously withdrawn 86,777 SOL from Kraken and Coinbase during June and July 2024 at an average price of $162.72. Over the past three weeks, the whale deposited 81,227 SOL to exchanges, securing a profit of $2.326 million in the process.
巨鲸 7qw9C…NbSZL 疑似减仓 8 个月前囤积的 SOL，8 小时前向 #Kraken 充值 50227 枚 SOL（940 万美金），若卖出将获利 122.7 万美金
他在 2024.06-07 期间以均价 $162.72 从 #Kraken 和 #Coinbase 提出 86777 枚 SOL，近三周已向交易所充值 81227 枚，获利 232.6 万美金https://t.co/GLUmE3F3hc pic.twitter.com/Dba8KDgBrK
— Ai 姨 (@ai_9684xtpa) January 12, 2025
Market Implications
Solana’s impressive metrics underscore its growing appeal as a high-performance blockchain, but the activities of large holders like 7qw9C…NbSZL could introduce volatility. The potential sell-off of SOL by this whale might impact market sentiment and price dynamics in the short term.
As Solana cements its position as a leading blockchain, investors should remain vigilant and closely monitor both network developments and whale behavior.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.