Solana surpasses Bitcoin and Ethereum in weekend trading volume

Dec. 25, 2023

By Oluwapelumi Adejumo

Crypto traders’ interest in Solana remains very high as the trading volume for the digital asset surpassed that of Bitcoin and Ethereum on major centralized exchanges during the weekend.

Conor Grogan, a director at Coinbase, first pointed out this milestone on Dec. 24, saying SOL saw more trading than the combination of the top two largest cryptocurrencies by market capitalization.

Riyad Carey, an analyst with Paris-based crypto intelligence platform Kaiko, further corroborated this finding, saying the same trend was observed on Kraken and Gemini, two of the largest U.S.-based crypto trading platforms.

 Chart showing the trading volume for Solana, Bitcoin, and Ethereum on centralized exchanges from Oct. 1 to Dec. 24, 2023 (Source: Kaiko)

SOL’s trading volume also beat BTC and ETH on UPbit and MEXC for the past 2 and 3 days, respectively.

Carey further shared a chart showing that SOL’s trading activities, compared to ETH and BTC, were experiencing an uptrend. According to the chart, SOL trading is approaching 40% of trading activities on centralized crypto platforms, while ETH and BTC were declining.

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