Based on data, from The Blocks Data Dashboard, the daily trading volume of Solana based tokens has surpassed $40 billion reaching its point since October 2022. At the time the growth in economic activity using the SPL standard has reached its peak since the end of 2022.
In comparison to the trading volume recorded in December Solanas current transaction volume has surged by 700% with a 7 day moving average of $5 billion.
Notably data scientist Andrew Hong suggests that on chain analysis indicates that memecoins like BONK are driving a portion of the trading activity, within the Solana ecosystem after SOL USDT/USDC pair transactions.
