Ethereum

Solana

Momentum

Billion

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-surpasses-ethereum-in-decentralized-exchange-volume/" data-wpel-link="internal">Solana Surpasses Ethereum in Decentralized Exchange Volume</a><br></p>
<p style="text-align: justify">Recent data shows that Solana (SOL) has surpassed Ethereum (ETH) in 24-hour daily volume on decentralized exchanges (DEX). This marks a significant achievement for the Solana network and its mainnet asset, SOL.</p> 
<h2 style="text-align: justify" id="strong-dex-transaction-volume-hits-1-3-billion-strong"><strong>DEX Transaction Volume Hits $1.3 Billion</strong></h2> 
<p style="text-align: justify">Data indicates that Solana’s DEX transaction volume has reached $1.3 billion, while Ethereum’s DEX transaction volume reached $1.29 billion, positioning Solana ahead of Ethereum. This signifies a major success for Solana, placing it as a strong competitor in the decentralized finance (DeFi) <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> against Ethereum. Additionally, the BNB Smart Chain (BSC) ranks third with a DEX transaction volume of $604 million, continuing to show strength in the DeFi market.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-349897" src="https://coin-turk.com/wp-content/uploads/2024/05/Altcoin-Solana-SOL.png" alt="" width="389" height="285"></p> 
<p style="text-align: justify">In addition to leading in transaction volume, Solana has also seen a significant increase in total transaction fees, reaching 50% of the fees generated on the Ethereum network in recent days. This marks a notable increase from only 1% during the 2021 bull run.</p> 
<p style="text-align: justify">Analysts believe that Solana may soon surpass Ethereum in transaction fees, indicating a significant development in the <a href="https://en.coin-turk.com/bitcoin-surpasses-previous-high-turkish-investors-crypto-preferences/" data-wpel-link="internal">cryptocurrency market</a>. This shift in dynamics is partly linked to capital moving to Layer 2 solutions, reflecting broader trends in blockchain scalability and efficiency.</p> 
<h2 style="text-align: justify" id="strong-sol-shows-strong-upward-momentum-strong"><strong>SOL Shows Strong Upward Momentum</strong></h2> 
<p style="text-align: justify">Solana’s impressive performance extends beyond transaction volume and fees, with its mainnet asset SOL rising over 6% in the last 24 hours. This has made SOL one of the best-performing altcoins in the market, with its <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> currently around $154 on major spot exchanges. Despite this price increase, Ethereum continues to dominate in terms of market value, overshadowing Solana’s $68 billion market cap with a $365 billion valuation.</p> 
<p style="text-align: justify">The competition between Solana and Ethereum reflects the high activity in blockchain technology and DeFi. As the Solana network continues to attract attention and outperform Ethereum in certain metrics, the “altcoin king” faces a challenging contest in its long-standing dominance in the DeFi market. This competition drives innovation while pushing both networks to enhance their scalability, security, and usability to meet increasing demands in the DeFi market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/solana-surpasses-ethereum-in-decentralized-exchange-volume/" data-wpel-link="internal">Solana Surpasses Ethereum in Decentralized Exchange Volume</a></h5>

Solana Surpasses Ethereum in Decentralized Exchange Volume

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