Aleph.im initiates serum markets analytics for Solana

In this post:

TL; DR Breakdown

  • The Serum features a fully on-chain central limit order book that provides liquidity to traders.
  • The Serum is a protocol that allows for speedy and secure data transfer, allowing its storage on an infrastructure blockchain. 

Crypto-enthusiasts will have an opportunity to learn more about the liquidity support of Solana and Serum. This is after Aleph.im inducted them within its indexing provider network. Aleph.im currently houses schemes of many different networks. Distinctly, Bitcoin Core, Ethereum Classic & Other tokens.

Aleph.im appends project serum aid

The Solana protocol has been a successful blockchain project in 2021. The company’s native asset, SOL, has seen a notable increase over three months, rising by 542%. Therefore, its market capitalization has seen it bulldoze its way to the top 10 cryptos currently.

Currently, SOL occupies the 4th biggest marketplace. It has a market estimate of 72 billion dollars. On Nov 4th, Aleph declared its plan to offer rational insights through Project Serum.

The Serum is a protocol that allows for speedy and secure data transfer, allowing its storage on an infrastructure blockchain. It also provides access tokens for Dapps to interact with the Solana network.

The Serum custom is a powerful tool that lowers trade charges and improves the pace of DeFi. Also, it will assist Aleph.im crew to pass insights into valuable data. According to Aleph.im.

Serum Market is a game-changer on how Serum can examine the immense amount of data and funds from different end-users. It will also grant heightened clarity into one of Solana’s most significant members in its defi ecosystem.

The outlines will access a wealth of data usable in the Solana marketplace through Aleph.im’s technology. This will be a possibility as it joins forces with Serum’s project management platform.

Enhanced distinctness into the Solana Defi ecosystem

There’s a lot of money on the line for blockchain projects. There is an estimation of around 250 billion dollars TVL across several blockchains. Yet, Solana boasts third place in defi TVL (Total Value Locked) position with 14.63 billion dollars. Moreover, it’s up 15% in 7 days.

Serum’s popularity continues to grow as its TVL reaches USD 5.06 billion, and it has a 7-day sales volume of around 6.82 billion dollars.

Aleph.im’s new features will include the ability to watch TVLs. Also, view trading records (OHLCV) and access data on an individual or company’s well-known orders record.

“It is our pleasure to offer our filing resolutions and analytics dashboards for Serum. With this new service we offer merchants more visibility into their defi investments in a more organized way. Plus, institutional investors who want an overview of what’s happening with all these different funds.” Jonathan Schemoul said.

It’s been a year of wild fluctuations for cryptocurrencies and analysts alike. More people than ever before are pouring money into researching the market to understand this hot commodity better. Therefore, analytical firms have been raking dollars.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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