The post Meme Coins SNEK and BANK Drive Trading Frenzy on Cardano’s Minswap Decentralized Exchange appeared first on Coinpedia Fintech News
Minswap, a decentralized exchange (DEX), has experienced a significant surge in recent days, potentially influenced by traders seeking profit opportunities within the meme coin market. Notably, the trading volume on this popular Cardano-based DEX has seen a substantial increase, rising from $1 million at the start of May to over $18 million as of Tuesday.
According to TVL rankings from DefiLlama, Minswap currently boasts a total value locked (TVL) of $175.74 million, reflecting its dominant position with over 37% of the market share.
Minswap’s volume surge can be attributed to the meme coin trade surge
The increased transaction volumes on Minswap can be attributed to the growing popularity of meme coins such as Snek (SNEK) and Bank (BANK).
Analysis of data from CoinGecko reveals significant surges in the prices of these tokens. Notably, Minsw
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