Minswap, a decentralized exchange (DEX) operating on the Cardano blockchain, has hit a new all-time high daily trading volume of $20.93 million.
The surge in trading volume is being attributed to a number of factors, including the growing popularity of meme coins on Cardano.
Meme coins are a type of cryptocurrency that is typically based on a popular internet meme or joke. They have become increasingly popular in recent months, with some meme coins, such as Dogecoin and Shiba Inu, seeing their prices soar.
Minswap is one of the most popular DEXes on Cardano, and it offers a variety of features that appeal to meme coin traders.
The DEX is non-custodial, which means that users retain control of their funds at all times. Minswap also offers low fees and fast transaction speeds.
The recent surge in activity on Minswap is a sign of the growing popularity of Cardano. The blockchain has seen a significant increase in adoption in recent months, as investors have become more interested in its potential.
Cardano is one of the most energy-efficient blockchains, and it offers a number of features that make it attractive to developers.
The growth of Minswap is a positive sign for the Cardano ecosystem. The DEX is helping to drive the adoption of the blockchain, and it is providing users with a variety of options for trading and earning yield. As Cardano continues to grow, it is likely that Minswap will continue to see increased activity.