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05/30/2023

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Meme-Coin Mania Fuels Transaction Surge On Cardano’s DEX Minswap 

Cardano’s decentralized exchange, Minswap, has seen a significant surge in transaction volumes as traders flock to profit from meme-coins. Volumes skyrocketed from $1 million in May to $18 million on Tuesday....

Meme-Coin Mania Fuels Transaction Surge On Cardano’s DEX Minswap 
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Cardano’s decentralized exchange, Minswap, has seen a significant surge in transaction volumes as traders flock to profit from meme-coins. Volumes skyrocketed from $1 million in May to $18 million on Tuesday. Minswap holds 37% of Cardano’s total token value, making it the platform’s largest application. This increased activity could lead to a rise in the prices of Minswap’s native token, Min’s tokens, both due to platform usage and their role as governance tokens. Notably, meme coins SNEK and BANK have contributed to the volume surge, with a 34% price increase and approximately $40 million traded on Minswap.

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