Cardano DEX Minswap Sees Surge in Trading Volume Fueled by SNEK, BANK

• Transaction volumes on Minswap DEX experienced a significant surge over the past few days.
• Volumes shot up from $1 million in the beginning of May to $18 million on Tuesday.
• The surge in volume can be attributed to increased trading of SNEK and BANK meme coins.

Minswap, a decentralized exchange (DEX), has witnessed a notable surge in the past few days, possibly driven by traders seeking profit opportunities within the meme coin market. The popular Cardano-based DEX saw its trading volume surge from $1 million at the beginning of May to more than $18 million on Tuesday.

TVL rankings from DefiLlama suggest that Minswap currently has a total value locked of $175.74 million with a dominance of over 37%.

A notable portion of the increased transaction volumes on Minswap can be attributed to the popularity of the meme coins Snek (SNEK) and Bank (BANK).

According to data from CoinGecko, the prices of these tokens have experienced substantial surges. Notably, Minswap alone recorded a total trading volume of $40 million for these meme coins. SNEK went from a low of $0.00074874 to a high of $0.00111428 at press time in the last 24 hours. It surged by over 34% duri…

The post Cardano DEX Minswap Sees Surge in Trading Volume Fueled by SNEK, BANK appeared first on Coin Edition.