diff --git a/components/explore/Spot.tsx b/components/explore/Spot.tsx
index 17493f06..14a12c65 100644
--- a/components/explore/Spot.tsx
+++ b/components/explore/Spot.tsx
@@ -17,6 +17,7 @@ import Input from '@components/forms/Input'
 import EmptyState from '@components/nftMarket/EmptyState'
 import { Bank } from '@blockworks-foundation/mango-v4'
 import useBanks from 'hooks/useBanks'
+import SheenLoader from '@components/shared/SheenLoader'
 
 export type BankWithMarketData = {
   bank: Bank
@@ -91,7 +92,8 @@ const Spot = () => {
   const { t } = useTranslation(['common', 'explore', 'trade'])
   const { group } = useMangoGroup()
   const { banks } = useBanks()
-  const { serumMarketsWithData } = useListedMarketsWithMarketData()
+  const { serumMarketsWithData, isLoading: loadingMarketsData } =
+    useListedMarketsWithMarketData()
   const [sortByKey, setSortByKey] = useState<AllowedKeys>('quote_volume_24h')
   const [search, setSearch] = useState('')
   const [showTableView, setShowTableView] = useState(true)
@@ -169,7 +171,15 @@ const Spot = () => {
           </div>
         </div>
       </div>
-      {sortedTokensToShow.length ? (
+      {loadingMarketsData ? (
+        <div className="mx-4 my-6 space-y-1 md:mx-6">
+          {[...Array(4)].map((x, i) => (
+            <SheenLoader className="flex flex-1" key={i}>
+              <div className="h-16 w-full bg-th-bkg-2" />
+            </SheenLoader>
+          ))}
+        </div>
+      ) : sortedTokensToShow.length ? (
         showTableView ? (
           <div className="mt-6 border-t border-th-bkg-3">
             <SpotTable tokens={sortedTokensToShow} />
diff --git a/hooks/useBirdeye24hrPrices.ts b/hooks/useBirdeye24hrPrices.ts
index 87022fea..cf0102fa 100644
--- a/hooks/useBirdeye24hrPrices.ts
+++ b/hooks/useBirdeye24hrPrices.ts
@@ -15,23 +15,49 @@ const fetchBirdeye24hrPrices = async (
     const queryEnd = Math.floor(Date.now() / 1000)
     const queryStart = queryEnd - DAILY_SECONDS
 
+    // collect unique quote tokens
+    const uniqueQuoteTokens = Array.from(
+      new Set(
+        spotMarkets.map((market) => {
+          const quoteBank = group.getFirstBankByTokenIndex(
+            market.quoteTokenIndex,
+          )
+          return quoteBank?.mint
+        }),
+      ),
+    ).filter(Boolean) // remove any undefined values
+
+    // fetch responses for unique quote tokens
+    const quoteResponses = await Promise.all(
+      uniqueQuoteTokens.map(async (quoteToken) => {
+        const quoteQuery = `defi/history_price?address=${quoteToken}&address_type=token&type=1H&time_from=${queryStart}&time_to=${queryEnd}`
+        const quoteResponse = await makeApiRequest(quoteQuery)
+        return {
+          quoteToken,
+          items: quoteResponse?.data?.items?.length
+            ? quoteResponse.data.items
+            : [],
+        }
+      }),
+    )
+
+    // create a map for quick access to quote items based on quoteToken
+    const quoteItemsMap = new Map(
+      quoteResponses.map((response) => [response.quoteToken, response.items]),
+    )
+
+    // fetch base responses and match them with quote items
     const promises = spotMarkets.map(async (market) => {
       const baseBank = group.getFirstBankByTokenIndex(market.baseTokenIndex)
       const quoteBank = group.getFirstBankByTokenIndex(market.quoteTokenIndex)
 
       const baseQuery = `defi/history_price?address=${baseBank?.mint}&address_type=token&type=1H&time_from=${queryStart}&time_to=${queryEnd}`
-      const quoteQuery = `defi/history_price?address=${quoteBank?.mint}&address_type=token&type=1H&time_from=${queryStart}&time_to=${queryEnd}`
 
-      const [baseResponse, quoteResponse] = await Promise.all([
-        makeApiRequest(baseQuery),
-        makeApiRequest(quoteQuery),
-      ])
+      const baseResponse = await makeApiRequest(baseQuery)
 
       return {
         base: baseResponse?.data?.items?.length ? baseResponse.data.items : [],
-        quote: quoteResponse?.data?.items?.length
-          ? quoteResponse.data.items
-          : [],
+        quote: quoteItemsMap.get(quoteBank?.mint) || [],
         marketIndex: market.marketIndex,
       }
     })