In an attempt to reduce congestion, the Solana Network has experienced a revival. The Solana DEX volume returned to $1 billion during the latest update.
The update also led to a 9% increase in the price of Solana, which currently trades at $152 according to CoinMarketCap. In fact, Solana’s impressive performance after the update has contradicted the continued regulatory pressures placed on Decentralized Finance in the last few weeks.
![How much can Solana (SOL), reclaim this week?](https://watcher.guru/news/wp-content/uploads/2023/05/maxresdefault-1-1024x576.jpg)
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Solana’s DEX volume increases despite DeFi scrutiny
Solana’s 2024 has been quite interesting so far. The network is gaining popularity in the market despite the fact that it’s only three months old. This was a result of the meme coin frenzy in March, which exploded digital assets. Nevertheless, this was jeopardized due to persistent network congestion problems.
A new update has addressed these issues. According to a report, Solana’s DEX has once again reached $1 billion. DEX Screener Alongside that update. SOL is also up, with an increase of as much as 9 percent, as blockchains have thrived.
![Dogwifhat with cryptocurrency](https://watcher.guru/news/wp-content/uploads/2024/04/dogwifhat-wif-cryptocurrency-1024x536.jpg)
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The DEX is increasing despite the pressures on this sector. The US Securities and Exchange Commission announced last week that it would be implementing a new rule to regulate the US stock market. Wells Notice for Uniswap. The platform, one of the most prominent DeFi exchanges in the world, has pledged to fight with the Agency for clarity on regulatory issues.
This action has raised concerns that the focus of the agency is shifting. There are whispers about its recent actions indicating a clampdown on DeFi platform. It would be similar to the enforcement strategies they used in their wider regulation of digital assets.
The popularity of the meme coins has been further boosted by Solana’s successes in this area. Assets like Book of Meme Since their launches this year, Dogwifhat and Dogwifhat have been a huge success. The market is currently in the middle of a rebound, and meme coins are feeling the love of investors.