Solana Dethrones Ethereum for the First Time
Transaction volume in Solana's DEX chain surpassed Ethereum for the first time on Monday, July 8, 2024.
On Solana , the figure rose to $2.097 billion, surpassing Ethereum’s $1.534 billion as of 15:00 (UTC) on July 10.
Despite Solana’s gains, Ethereum continues to lead in total value locked (TVL) by more than four times compared to Solana, totaling $7.095 billion versus $1.707 billion.
The significant growth in Ethereum is due to various decentralized projects using its scalability-oriented blockchain.
Among Solana’s various platforms, Raydium is noteworthy, whose transaction volume over the past seven days totaled $6.868 billion.
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Solana (SOL) Shows Signs of Recovery Amid Market VolatilityOf that, $1.162 billion was recorded in the last 24 hours, resulting in a weekly increase of 143%.
Orca, Meteora, Phoenix and Lifinity round out Solana’s top five solutions, each seeing an increase of between 38% and 76% in their DEX transaction volume over the past week.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
