November 2024 witnessed groundbreaking achievements in the decentralized finance (DeFi) space, as Ethereum-based Uniswap and Solana decentralized exchanges (DEXs) shattered monthly trading volume records. These milestones underscore the rapidly growing adoption of DeFi and Layer-2 solutions, further fueled by the bull-run of 2024 and the increasing momentum of Bitcoin and Ethereum.

At Coin Push Crypto Alerts, we help users stay informed about key market trends, without offering buy, sell, or trading services. Let’s delve into the specifics of these record-setting performances and their implications for the crypto ecosystem.

---

Uniswap: Record $38 Billion on Ethereum Layer-2 Networks

Uniswap, a leading decentralized exchange, achieved a staggering billion in trading volume across Ethereum Layer-2 platforms like Arbitrum, Base, Polygon, and Optimism. This milestone surpassed its previous record of billion set in March by billion.

Key Drivers of Growth

Henrik Andersson, CIO of Apollo Crypto, attributes this surge to rising demand for DeFi assets and stablecoins. He emphasized the role of higher on-chain yields and the ETH/BTC momentum:

Check out our article about Crypto Futures Signals to learn more!

Don’t miss our article about crypto alerts and telegram groups for futures traders. Stay updated with Coin Push Crypto Alerts as we track the ongoing developments throughout Bull Run 2024.

“Every time Bitcoin nears $100,000, Ethereum and DeFi tokens gain traction, spurring a renaissance in DeFi activity.”

• Arbitrum contributed $19.5 billion, leading the charge, while Base, incubated by Coinbase, added $13 billion.
• Uniswap’s fee generation also hit new highs, ranking it as the sixth-largest protocol globally with $90 million in fees, surpassing competitors like Tron and Maker.

This increased activity has positively impacted Uniswap’s native UNI token, which saw a weekly surge of 42%, trading at $12.58—a 10% increase in the past 24 hours. This performance outpaced other decentralized exchange tokens like Solana-based Raydium.

---

Solana: $100 Billion Monthly DEX Volume Milestone

Solana’s DEXs also reached a historic $109.78 billion in trading volume in November, driven largely by a resurgence in meme token trading. This marked a 330% growth since September and 108% since October.

Catalysts for Solana’s Growth

1. Institutional Investments:
   Solana blockchain applications saw $173 million in funding across 29 rounds in Q3 2024, the highest investment since Q2 2022.
2. Increased Activity:
   • Average daily fee payers rose to 1.9 million (+109% quarter-over-quarter).
   • New fee payers surged by 430%, reaching 1.3 million.

These metrics highlight Solana’s growing ecosystem, with decentralized applications (DApps) like Pump.fun benefiting from increased activity.

---

Implications for the DeFi Ecosystem

Ethereum Layer-2 Dominance

Uniswap’s record-breaking volumes highlight the critical role of Layer-2 networks in scaling DeFi. These platforms reduce transaction fees and enhance speed, making DeFi more accessible.

Solana’s Resilience

Solana’s DEXs achieving a 0 billion milestone signals strong user interest despite past challenges. The network’s ability to attract institutional funding and expand its user base cements its role as a formidable competitor in the crypto landscape.

Bitcoin and DeFi Synergy

As Bitcoin approaches $100,000, Ethereum and DeFi tokens continue to benefit. This synergy is a hallmark of the bull-run of 2024, emphasizing the interconnected growth of major cryptocurrencies and decentralized finance.

---

#CryptoAlerts #CryptoSignalsApp #Bitcoinsignals #Ethereum #Altcoins #BullRun2024

Disclaimer: All links provided are for informational purposes only. Coin Push Crypto Alerts does not endorse or take responsibility for the content or services provided on external websites.

Disclaimer: The information provided in this article does not constitute investment advice, financial advice, trading advice, or any other advice, and should not be treated as such. Coin Push Crypto Alerts does not recommend buying, selling, or holding any cryptocurrency. Always conduct your due diligence and consult a financial advisor before making any investment decisions.

Join Coin Push Crypto Alerts for Top Crypto Calls

There are indications that the crypto will be distributed to players over two years rather than all at once. This approach is likely designed to prevent a rapid drop in price after listing, with the intention that only the “whales” will remain to buy up your coins gradually.

Install Coin Push Crypto Alerts today and take the first step towards mastering the market in 2024. Choose reliability, choose transparency, and unlock the full potential of the upcoming bull-run.

Coin Push

Coin Push Crypto Alerts stands as a testament to the power of mathematical algorithms and data-driven analysis in providing actionable insights to traders. By prioritizing reliability and transparency, Coin Push Crypto Alerts empowers traders to make informed decisions and navigate the complex crypto market with confidence.

And always remember – No fortune telling, just math!

With Coin Push Crypto Alerts leading the way, traders can trade smarter, not harder, and seize the countless opportunities the crypto market offers. Choose reliability, choose transparency, and install Coin Push Crypto Alerts.

Follow Us on social @coinpushapp

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Trade Like a Pro with Coin Push Crypto Alerts

Are you looking to enhance your trading skills or confirm your strategies? AltSignals provides precise trading signals to help both novice and experienced traders. Explore Coin Push to stay ahead of the market and make informed trading decisions.

Install Coin Push Crypto Alerts today and take the first step towards mastering the market in 2024. Choose reliability, choose transparency, and unlock the full potential of the upcoming bull-run.

FAQ