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As 2024 starts, Solana (SOL) has emerged as a frontrunner, surpassing Ethereum in stablecoin volume and dominating search interest. Simultaneously, Pullix, an upcoming hybrid exchange, made waves with its “Trade-To-Earn” PLX token presale.

Let’s delve into these significant developments that have captivated the attention of crypto enthusiasts and investors alike.

In a monumental stride, Solana has outpaced Ethereum in stablecoin transaction volume. While Ethereum remains the most dominant chain when it comes to the total market cap of the issued stablecoins according to DeFilama data, the amount of stablecoin transactions carried out on Ethereum over the last seven days has surpassed that carried out on Ethereum according to data on Artemis.

According to the information from Artemis, the volume of stablecoins transacted on Solana over the last seven days stands at approximately $103 billion compared to Ethereum’s $90.87 billion.

Once hailed as an “Ethereum killer,” Solana has solidified its position as a formidable blockchain player, showcasing remarkable growth and user engagement. The blockchain’s vibrant ecosystem, marked by activities ranging from inscriptions craze to memecoin mania, contributed to this milestone.

Solana’s surge in stablecoin volume underscores its growing popularity, with traders finding value in its robust infrastructure and diverse offerings, including the trending BONK meme coin and the Solana Saga phone. Airdrops like the Jito Airdrop and the rise of decentralized exchanges (DEX) on Solana have also fuelled the blockchain’s ascent, pushing its market cap beyond $50 billion. This momentum positions SOL as a prominent player in the cryptocurrency market.

Beyond transactional prowess, Solana has eclipsed Ethereum in search interest, signalling a shift in crypto enthusiasts’ curiosity. Google Trends data reveals that from December 17 to December 23, the term “Solana” garnered a higher search interest score than “Ethereum” in various regions, including Spain and the Philippines.

This surge in search interest can be attributed to Solana’s recent achievements, including surpassing Ripple’s XRP and Binance’s BNB in market capitalization. The blockchain’s price appreciation, decentralized exchanges recording over $28 billion in volume in December alone, and the anticipation of upcoming token airdrops have contributed to this heightened interest in Solana.

Amidst the excitement surrounding Solana (SOL), Pullix (PLX) has emerged as a noteworthy contender.

Pullix, an innovative hybrid exchange scheduled to launch in January 2024, is set to revolutionize the trading landscape by seamlessly blending centralized and decentralized exchange features. The platform addresses critical issues such as liquidity problems in DeFi, offering a unified solution for traders.

At the heart of Pullix’s ecosystem is the PLX token, dubbed the crypto market’s first “Trade-to-Earn” cryptocurrency, which is currently in the presale stage. The token empowers users to earn instant rewards for trading on the platform and completing challenges. The presale of PLX has generated significant buzz, with analysts predicting a 580% rise during the presale and a potential 100x increase upon launch.

The PLX token’s unique revenue-sharing mechanism sets Pullix apart, allowing token holders to profit from the daily revenue of the exchange and earn a fixed passive income. By incentivizing users to provide liquidity, Pullix aims to enhance liquidity and offer more competitive prices compared to other platforms, further attracting traders to its ecosystem.

In the ever-evolving landscape of cryptocurrencies, Solana’s stellar performance and Pullix’s groundbreaking approach signify a shift towards innovation and user-centric platforms.

Solana’s dominance in stablecoin volume and search interest, coupled with Pullix’s presale success and the introduction of the PLX token, demonstrate the dynamism and potential within the crypto market.

The post Solana surpasses Ethereum as a new altcoin joins the contest appeared first on Invezz

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