Solana’s continued doing well in December, as meme coins helped it gain market share against Ethereum and other blockchains.

According to DeFi Llama, Solana’s (SOL) protocols in the decentralized exchange industry were the most active in December. 

Its volume rose to over $97 billion, much higher than the $22.6 billion it handled in the same period last year. 

Notably, it was the third consecutive month that Solana outperformed Ethereum (ETH), which has dominated the industry for years. Ethereum’s protocols had a volume of over $74 billion, while Base and Arbitrum handled $42 billion and $37 billion.

Solana also performed great in November, where its DEX networks had a volume of $129 billion, higher than Ethereum’s $70.6 billion. A month earlier, Solana handled volume of $52 billion, while Ethereum processed $41 billion. 

Most of Solana’s DEX volume was because of Raydium (RAY), a network that handled coins worth $65 billion in the last 30 days. Orca handled $24 billion, while Lifinity, Pump, and Phoenix had volumes worth over $5.93 billion. 

Solana’s DEX volume has jumped because of the meme coin industry, which has continued doing well this year. Solana has attracted thousands of meme coins this year, helped by the creation of Pump, the biggest token generator. All Solana meme coins have a market cap of over $14.1 billion, led by Bonk, Dogwifhat, Popcat, and Peanut the Squirrel. 

This growth has been highly profitable for Solana and its native apps. All Solana native dApps generated a record $365 million in revenue in November, a record high. Similarly, according to TokenTerminal, Solana’s blockchain generated a record $725 million in fees in 2024, making it the third-most profitable chain after Ethereum and Tron. 

Developers and users love Solana because of its substantially lower fees and higher throughput. 

Base, the layer-2 network launched by Coinbase, has also been a big breakout star in 2024 as its total fees rose to over $82 million. It has become the biggest layer 2 network in the blockchain industry, with its DEX networks handling over $181 billion in assets, while its total value locked soared to $2 billion.

Uniswap’s price has rallied, crossing a crucial resistance level, with many crypto experts predicting further gains ahead.

Uniswap (UNI) token surged to $19.44, its highest level since December 2021, as crypto momentum continued to strengthen.

This rally coincides with robust inflows across decentralized exchange (DEX) networks. Data indicates that DEX platforms handled over $372 billion worth of tokens in November, marking the largest monthly increase on record.

Uniswap alone processed $30.86 billion in volume over the last seven days, solidifying its position as the industry leader. Its volume significantly exceeded that of competitors like Raydium and PancakeSwap combined. Over its lifetime, Uniswap has facilitated over 465 million trades worth more than $2.36 trillion.

Uniswap’s price is also gaining momentum as traders anticipate the launch of UniChain, the platform’s independent Layer-2 chain. UniChain aims to enable seamless cross-chain trading on a single platform. Currently in the testnet phase, UniChain is set to launch early next year.

At the same time, there are rising odds that the Trump administration will abandon the case brought against Uniswap by the Securities and Exchange Commission. The SEC alleged that the company provided securities on its platform without registration. 

Uniswap price analysis

The weekly chart reveals that UNI has formed a slanted triple-bottom pattern, a bullish reversal indicator. The price has broken above the pattern’s neckline at $17.13, suggesting that bulls are firmly in control.

UNI is also approaching the 38.2% Fibonacci Retracement level at $19.23. Furthermore, it has moved above the 50-week moving average, while the MACD indicator and Relative Strength Index are both trending upwards.

The path of least resistance for UNI appears bullish, with a long-term target of $50, representing approximately a 180% increase from the current level. This aligns with predictions from analysts like Crypto Tigers predict.

For this to happen, Uniswap price will need to rise above the 50% retracement point at $24 and its all-time high of $45.

Decentralized exchange Uniswap has launched in-app, permissionless cross-chain bridging for its users, with service available across nine blockchain networks.

On Oct. 23, the Uniswap (UNI) team announced that its permissionless cross-chain bridge was now live, bringing the DEX protocol closer to enabling cross-chain swaps. The cross-chain intents protocol, Across Protocol, powers this in-app Uniswap bridging feature, according to the announcement.

Only native assets

With the launch, Uniswap users can now undertake cross-chain transactions across nine networks. These include Ethereum (ETH), Arbitrum (ARB) Polygon (POL) and ZKSync (ZK). Other networks with initial support are Base, Zora, Blast, OP Mainnet and World Chain.

The feature only supports native assets, such as ETH on the Ethereum network or ARB on the Arbitrum network. Bridging will also be available for stablecoins. In terms of functionality, users will perform cross-chain transactions directly via their Uniswap interface and Uniswap Wallet.

According to data from Dune, multi-chain access currently has a cumulative count of over six million Uniswap users. However, cross-chain bridge swaps remain low. The Uniswap Labs team aims to significantly increase this number.

Uniswap recently unveiled UniChain, a new layer-2 chain targeting DeFi and cross-chain liquidity. Announced on Oct. 10, UniChain aims to help the crypto market address DeFi’s challenges. Key to this vision are decentralization, near-instant transactions, and multi-chain swapping.