Serum, a decentralized exchange on the Solana blockchain, has seen its native token, $SRM, hit a new all-time high following continued adoption and growing interest in the Solana protocol.
Serum ($SRM) hit a new high of $11.4 as of this writing – this is a 127% rise in value in just 2 days with 24-hr trading volumes exceeding $1.6B.
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The growth in Serum is largely being driven by the growing interest in the Solana blockchain protocol, which has been touted as an alternative to Ethereum due to its low fees and high transaction throughput.
Serum also seems to be riding on the wave of other high-end projects within Solana such as BonFida ($FIDA) and Raydium ($RAY) which leverage the Serum trading boooks. Both of these projects have been fairly successful since launch, which in turn, has boosted the overall activity on the Serum DEX.
Similarly, the price of Solana ($SOL) has continued to hit new all-time highs after rallying 175% in the last 30 days brought on by multiple projects building on the ecosystem.
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RECOMMENDED READING: UniSwap Trade Volumes Hit a Weekly Milestone of Over $10B and Set to Process Over $500 Billion in 2021
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