Ethereum

Solana

Read

Billion

<ul>
 <li>Solana’s 24-hour DEX volume surpassed Ethereum’s with $1.148B vs. $745.65M.</li>
 <li>Solana offers cheaper transaction costs, attracting traders seeking efficiency.</li>
 <li>Proof of History enhances Solana’s scalability, contrasting Ethereum’s sequential processing.</li>
</ul>
<p><a href="https://solana.com/" target="_blank" rel="noopener noreferrer nofollow">Solana</a> has emerged as a leader in the decentralized exchange (DEX) space, outperforming Ethereum in daily trading volume over the past 24 hours. With more than $1.148 billion in transactions, Solana has surpassed Ethereum’s $745.65 million, indicating a major change in the dynamics of the blockchain industry.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">BREAKING: SOLANA FLIPS ETHEREUM IN 24H DEX VOLUME <a href="https://t.co/8jypqNm4ty" rel="noopener noreferrer nofollow">pic.twitter.com/8jypqNm4ty</a></p>— DEGEN NEWS (@DegenerateNews) <a href="https://twitter.com/DegenerateNews/status/1807247886159114290?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 30, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The rise in Solana’s DEX activities is due to the fact that it is cost-effective, with transactions costing much less than on <a href="https://ethereum.org/en/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>. Its affordability&nbsp; has become an attractive incentive for traders, driving them to Solana for faster and more cost-effective transaction solutions.</p>
<p>Beyond trading volume, Solana and Ethereum compete in a number of industries, including gaming, non-fungible tokens (NFTs), and decentralized finance (DeFi).&nbsp;</p>
<p>Platforms hosted by Solana, such as the <a href="https://cryptonewsland.com/jupiter-dex-embraces-blinks-unveiling-the-future-of-decentralized-exchanges-will-jup-set-a-new-ath/" target="_blank" rel="noopener noreferrer nofollow">derivatives exchange Jupiter</a>, the NFT marketplace Magic Eden, and Star Atlas, are flourishing due to its high-speed capabilities, and the secure ecosystems it has established in these domains.</p>
<p>Solana has a distinct time-stamping protocol called Proof of History, which supports its proof-of-stake consensus mechanism, which is the foundation of its technological advantage.&nbsp;</p>
<p>This approach eliminates the need for validators to synchronize transaction and block times, allowing for parallel transaction processing. Ethereum, on the other hand, frequently experiences delays during network congestion due to its sequential transaction processing.</p>
<p>Solana is a leading platform for various decentralized applications (dApps) due to its speed and scalability. These dApps provide solutions for industries such as gaming, digital assets, and financial services. In contrast to Solana, which maintains lower transaction costs even under congestion, Ethereum users <a href="https://cryptonewsland.com/shiba-inu-lucie-clarifies-shibs-impracticality-for-ethereum-gas-fees/" target="_blank" rel="noopener noreferrer nofollow">struggle with high gas fees</a> during network congestion.</p>
<p>The increasing trading volumes of Solana on DEX highlight a larger industry trend towards blockchain solutions that are efficient and scalable. The capacity of Solana to adapt to these changes puts it in a strong position to compete with Ethereum and other blockchain technologies in the future.&nbsp;</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/polygon-integrates-celestias-data-solution-for-cost-efficient-layer-2-networks/" rel="noopener noreferrer nofollow">Polygon Integrates Celestia’s Data Solution for Cost-Efficient Layer-2 Networks</a></li>
 <li><a href="https://cryptonewsland.com/dex-transaction-volume-hits-2-62-billion-on-arbitrum/" rel="noopener noreferrer nofollow">Arbitrum DEX Transaction Volume Hits $2.62 Billion</a></li>
 <li><a href="https://cryptonewsland.com/solanas-dex-rockets-beyond-1-billion-amid-defis-regulatory-storm/" rel="noopener noreferrer nofollow">Solana’s DEX Rockets Beyond $1 Billion Amid DeFi’s Regulatory Storm</a></li>
 <li><a href="https://cryptonewsland.com/crypto-market-news-46-9m-and-counting-blockdag-crushes-presale-goals-as-ethereum-dex-slumps-xlm-stays-solid/" rel="noopener noreferrer nofollow">Crypto Market News: $46.9M and Counting: BlockDAG Crushes Presale Goals as Ethereum DEX Slumps &amp; XLM&nbsp; Stays Solid</a></li>
 <li><a href="https://cryptonewsland.com/base-dex-surges-past-bnb-chain-reaches-record-267k-users/" rel="noopener noreferrer nofollow">Base DEX Surges Past BNB Chain Reaches Record 267K Users</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/solana-surpasses-ethereum-in-dex-volume-emerges-as-leader-in-cost-efficient-transactions/" rel="noopener noreferrer nofollow">Solana Surpasses Ethereum In DEX Volume, Emerges as Leader in Cost-Efficient Transactions</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Solana Surpasses Ethereum In DEX Volume, Emerges as Leader in Cost-Efficient Transactions

Crypto News Land

Inne artykuły opublikowane 30 cze 2024

Emerging Blockchain Coins: What to Watch for in July 2024

Ethereum’s MOG rises 100%, flips BOME: Are the memecoin tides turning?

Trump the Felon (TRUMPFEL) Will Explode 18,000% Ahead of KuCoin Listing, as Shiba Inu, Bonk and D...

Bitcoin loses it ahead of weekly, quarterly, and monthly close

Bitcoin HODLers confident despite market decline: Will this help BTC’s price?

BlockDAG’s Dev Release 59 Unveils X1 Miner Enhancements & Bug Bounty Triumphs as Presale Hits $54.7M

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!