Serum (SRM) hits a new all-time high as Solana adoption gains traction

Decentralized finance (DeFi) has reshaped the face of the cryptocurrency market over the past year, attracting the attention of both institutional investors and retail traders alike as the traditional financial sector continues to warm up to blockchain technology.

While the majority of the largest DeFi protocols that have a significant amount of volume and value locked in the platform operate on the network, high fees and slower transaction times have allowed projects like Serum, a decentralized exchange (DEX) that operates on the Solana blockchain, to rise in popularity and gain market share.

SRM/USDT 4-hour chart. Source: TradingView
SRM/USDT vs. SOL/USDT 4-hour chart. Source: TradingView
VORTECS™ Score (green) vs. SRM price. Source: Cointelegraph Markets Pro