Ethereum

Solana

Uniswap

Orca

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/decentralized-exchange-volume-solana-edges-out-ethereum" rel="noopener noreferrer nofollow">Decentralized Exchange Volume: Solana Edges Out Ethereum</a><br></p>
<p style="text-align: justify">Decentralized finance (DeFi) is a rapidly evolving sector where decentralized exchanges (DEX) play a pivotal role, handling billions of dollars in transactions. <a href="https://en.bitcoinhaber.net/solana-surges-to-become-the-fifth-largest-cryptocurrency-by-market-cap" rel="noopener noreferrer nofollow">Solana</a>, with its DEX platform Orca, has recently gained significant traction among investors.</p>
<h2 id="solana-s-milestone-achievement">Solana’s Milestone Achievement</h2>
<p style="text-align: justify">New data from DefiLlama reveals that Solana (SOL) has outperformed Ethereum (ETH) in terms of 24-hour DEX volume, marking a notable achievement for the network. Despite this daily success, Solana still trails behind Ethereum in the weekly DEX volume rankings.</p>
<p style="text-align: justify">Solana’s weekly DEX volume has seen a 15.34% increase, while Ethereum experienced a 12.44% decline. Over the last week, Solana’s DEX volume reached $5.518 billion, compared to Ethereum’s $7.971 billion, maintaining Ethereum’s lead in the longer term. Nevertheless, Solana’s daily volume of $1.461 billion has surpassed Ethereum’s $1.443 billion.</p>
<h2 id="orca-s-contribution-to-solana-s-growth">Orca’s Contribution to Solana’s Growth</h2>
<p style="text-align: justify">Orca, the leading DEX on the Solana network, played a significant role in this achievement, witnessing a weekly volume increase of roughly 50%, amounting to $2.211 billion. This surge positioned Orca as the third-largest DEX by weekly volume, trailing only behind Uniswap and PancakeSwap.</p>
<p style="text-align: justify">With a 24-hour volume of $726.83 million, ORCA ranks second among decentralized exchanges. Solana accounts for a third of the total $4.974 billion daily DeFi volume, and Orca captures nearly 10% of the global weekly DEX volume of $23.103 billion.</p>
<p style="text-align: justify">The growth of Solana and Orca could further enhance the value of their native tokens, SOL and ORCA, challenging the long-standing dominance of Ethereum and Uniswap in the DeFi space. Although SOL’s price dipped by 6% to $95.35 in the last 24 hours, the overall market trend and a 10.10% weekly price increase reflect an expanding interest in Solana.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/decentralized-exchange-volume-solana-edges-out-ethereum" rel="noopener noreferrer nofollow">Decentralized Exchange Volume: Solana Edges Out Ethereum</a></h5>

Decentralized Exchange Volume: Solana Edges Out Ethereum

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