Daily trading volume on decentralized exchange Minswap jumped to a high of $20.93 million from around $1-2 million in early May.
Yesterday was another record-breaking day for both Minswap DEX and Cardano!💥
🎩 Minswap had an ATH Daily Volume of 54.98mn $ADA/20.93mn $USD.
🐍 Minswap accounted for 90.14% of the volume among all Cardano DEXs.Another historical day for #cardano DeFi🔥 pic.twitter.com/qO4G9ASUIW
— Minswap Labs (@MinswapDEX) May 29, 2023
A significant part of the increase in volumes came from the SNEK and BANK meme-tokens based on Cardano.
According to CoinMarketCap, over the past 24 hours, the price of SNEK has gained 34%, and the asset has risen in price by 155% over the week.
Minswap is the largest app on Cardano by value locked (TVL) with over $65M, roughly 37% of the $175.7M total.
The decentralized platform accounts for over 99% of SNEK trading volumes, mostly paired with the ADA network cryptocurrency.
In the CoinGecko ranking, the Cardano coin ranks seventh in terms of capitalization with $13.34 billion.
Recall that in 2022, the Cardano network bypassed Bitcoin in the rating of emotional attachment of consumers from the MBLM agency. The list of 600 positions also included Uniswap and Solana.
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