Ethereum

Solana

DeFi

Time

<ul class="news-points">
 <li>Solana’s onchain DEX transaction volume suppressed that of Ethereum.</li>
 <li>Solana’s transaction volume spiked to $2.395 billion last Monday.</li>
 <li>Raydium, Orca, Meteora, Phoenix, and Lifinity are the top five solutions on Solana.</li>
</ul>
According to data from DeFiLlama, the leading DeFi data aggregator, Solana’s on-chain DEX <a href="https://defillama.com/dexs/chains" target="_blank" rel="noopener noreferrer nofollow">transaction volume surpassed</a> that of Ethereum for the first time on Monday, July 8, 2024. Solana’s transaction volume spiked to $2.395 billion, outpacing Ethereum’s $2.177 billion.
On a weekly basis, Solana’s DEX transaction volume reached $14.012 billion, topping Ethereum’s $13.842 billion. Solana solidified its recent dominance by posting a 93.92% increase in transaction volume compared to Ethereum’s 40.03% increase.
Although Solana has made significant gains, Ethereum remains the dominant player in total value locked (TVL). DeFiLlama’s data shows Ethereum’s TVL is over four times that of Solana, with $7.113 billion compared to $1.722 billion.
Ethereum has experienced significant growth recently, fueled by numerous decentralized projects adopting the scalability-focused blockchain. Among the various solutions running on Solana, Raydium stands o…
The post <a href="https://coinedition.com/solana-flips-ethereum-surpasses-dex-volume-for-first-time/" rel="noopener noreferrer nofollow">Solana Flips Ethereum: Surpasses DEX Volume for First Time</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Solana Flips Ethereum: Surpasses DEX Volume for First Time

Coin Edition

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