While Solana (SOL) showed a good performance, Serum (SRM) also did not miss the positive movement since yesterday.
In addition, Serum is a decentralized exchange (DEX) that operates on the Solana blockchain.
Based on observations, the SRM price has skyrocketed by 127% over the past two days from a record low on April 24, $ 5 to a new all -time high (ATH) of $ 11.47 on April 26.
At the same time, its trading volume in 24 hours reached a value of $ 1.621 billion.
It could be that the SRM price movement to the new ATH was driven by several factors including the latest, growth in the number of front-end user interfaces such as Bonfida (FIDA) and Raydium (RAY) that offer access to Serum book trading.
In fact the access helps further increase the overall activity on DEX, besides making the token value more expensive.
At the same time, Serum also offers the opportunity to holders to stake their tokens for profit and, interestingly the tokens also have a buy and burn mechanism that will help reduce the supply cycle. This can increase the value of the token.
At the time of writing, within 24 hours each recorded values: SOL ($ 45.80, down over 2%) and SRM ($ 10.75, up over 40%).
