Solana has administered to surpass Ethereum in daily 24-hour volume on decentralized exchanges, according to recent data.
Solana has administered to surpass Ethereum in daily 24-hour volume on decentralized exchanges, according to recent data.
The two popular blockchains recorded $1.3 billion and $1.29 billion, respectively, in DEX trading volume.
BSC is in third place with DEX trading volume worth $604 million.
Arbitrum and Base rank fourth and fifth after generating $510 million and $286 million in DEX trading volume, respectively.
Another flip?
It’s also worth noting that Solana’s total fees are now at fifty% of Ethereum fees in recent days. For comparison, the ratio was just 1% during the 2021 bull run.
Some analysts wait Solana will change Ethereum fees this month, which would be a major development for the cryptocurrency ecosystem. However, it is worth noting that the movement of capital towards layer 2 solutions is one of the reasons for this changing dynamic.
Solana rises 6%
The price of the SOL cryptocurrency has increased by more than 6% in the last 24 hours, making it one of the best-performing altcoins. The token is currently changing hands at $154 on major spot exchanges. Its market capitalization currently stands at $68 billion.
For comparison, ETH is currently up a modest 1.23%. However, with its $365 billion valuation, it still dwarfs Solana.
