Solana’s Losing Steam? GRVT’s DEX Pulls $1.3B in a Month

GRVT’s Explosive Growth Steals the Spotlight

While Solana’s activity is declining, a new decentralized exchange (DEX), GRVT, is making big moves in the crypto space. GRVT is the world’s first regulated DEX operating as a self-custodial centralized exchange (CEX), combining the best of both. The platform uses smart contracts to ensure self-custody, security and scalability so users can trade and invest hassle free.

Key achievements of GRVT in its first 30 days include:

• Daily Active Traders (DAT): Over 1,000, a significant milestone for a new DEX.

• KYCed Users: 33,266 onboarded, surpassing many established DEX platforms.

• Trading Volume: A staggering $1.3 billion in total transactions.

GRVT’s co-founder and CEO, Hong Yea, said “We’ve launched six major features including configurable leverage, cross-chain bridging and PnL tracking with more to come. GRVT gets better daily.”

The Future of Regulated DEXs

GRVT’s growth shows the demand for regulated, decentralized trading platforms is growing. Its unique approach of combining regulatory compliance with self-custody puts it at the forefront of the DEX evolution.

Solana’s decline in activity shows the challenges of keeping the network engaged even with a rising price. Will GRVT keep the momentum and will Solana’s ecosystem bounce back? Only time will tell.

For now GRVT’s first 30 days is a good start for decentralized finance and a new story in a world of fluctuating network trends in crypto.