Ethereum

Solana

Arbitrum

Jupiter

CoinGecko analysts have found Ethereum at the top of March’s trading volumes for decentralized exchanges. 
Ethereum <a href="https://www.coingecko.com/research/publications/blockchain-trading-volume-market-share" target="_blank" rel="">became</a> the leader of decentralized exchanges (<a href="https://crypto.news/tag/dex/" target="_blank" rel="">DEX</a>) in trading volumes, with a share of 37.1%. Last month, trading volume on the Ethereum network increased by 92.4%, reaching $69.67 billion. 
The <a href="https://crypto.news/tag/Solana/" rel="">Solana</a> blockchain now sits in second place with a share of 21.3% but has shown the greatest growth over the reporting period, at 244.8%, reaching $40 billion. 
BNB Smart Chain is in third place, accounting for&nbsp;15.1% of the total trading turnover across all DEXs. In March, its trading volume was $28.5 billion, an increase of 161.1% over the month. The blockchain finished the last reporting period with $10.9 billion. 
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According to CoinGecko, the total trading volume on DEXs reached $190 billion, more than doubling February’s figure of $81 billion. 
Experts note that Ethereum’s share dropped sharply during the first quarter of 2024, falling to 33.4%&nbsp;as Solana and Arbitrum significantly strengthened their positions. For comparison, in the fourth quarter of 2023, Ethereum’s share was 46.8%. 
<blockquote class="wp-block-quote"> 
 “In January and February 2024, Arbitrum briefly overtook Ethereum’s dominance. Ethereum had a 31.2% and 30.1% market share in January and March, while Arbitrum stood at 39.1% and 39.7% during the same period.” <cite>CoinGecko</cite>
</blockquote> 
Trading volume itself continues to grow within the network. In the first quarter of this year, it increased by&nbsp;46.8%, as calculated by <a href="https://crypto.news/tag/CoinGecko/" target="_blank" rel="">CoinGecko</a>. Solana remains the growth leader, as its trade turnover increased from $18.18 billion to $62.31 billion. Quarterly, this figure increased by 242.7%. 
In March, DEXs based on Solana <a href="https://crypto.news/solana-ethereum-dex-meme-coins/" rel="">captured</a> about half of the daily trading volume in the market. The segment leader was the Jupiter platform, which had $2.66 billion, followed by Raydium at $2.4 billion. The increased interest in the Solana blockchain occurred amid the hype around <a href="https://crypto.news/tag/meme-coin/" target="_blank" rel="">meme coins</a>. 
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CoinGecko: Ethereum overtakes Solana by DEX trading volume

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